"Sell Valentine Selllll!!"
This month’s update is a no brainer:
“SELL VALENTINE!! SELLLLL!”
Many of you may remember the film “Trading Places” in which the Duke brothers (being finally duped by their unwilling experiment subjects – Eddie Murphy and Dan Aykroyd) wind up wishing they had sold their stake in frozen concentrated orange juice (FCOJ) a little earlier. I do not want this to happen to you.
Active listing volumes are UP and Sales volumes are DOWN across the board for September. Although the months of inventory index remains low (around 3), I expect these figures to continue to rise over the next several months and the price increases to come to an end. I strongly feel that this is run-up in prices is a “second chance” to sell at a high point in this market cycle.
For many, the current incredibly low interest rates and the fact they have found a home they love, can afford and plan to stay in for the next 5 to 10 years means they should stay put. The same is true for those looking for a primary residence they need but for those expecting to sell over the course of the next couple of years - I recommend selling NOW.
For copies of the charts or tables please contact me at firstname.lastname@example.org
Remember that: “Months of Inventory” is a measure derived from the number of active listings during a given month divided by the number of sales that month. It indicates the theoretical length of time it would take to sell all of the properties on the market if nothing changed. Historically, 0-5 months of inventory has generally implied upward price pressure for the ensuing six months, 5-8 months of inventory meant a flat market with respect to pricing and over 8 months of inventory has, for the most part, precipitated downward price pressure.
By Vancouver Realtor: Sam Wyatt