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Market Craziness, Difficult to Understand

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When a REALTOR says JUMP, ask How High?

  • Photograph of Nancy Smith
  • Qualicum Beach REALTOR®
  • Published: Apr 2nd, 2021 at 1:04 pm

Listings vx Sales Graph Chart

At the beginning of the pandemic lockdowns, in February /2020, listing inventory, though historically low still provided about double the listings comparative to sales.  We see the difference narrowing until July 2020, when the real estate market flourished and has maintained a nearly correlated line of listings being scooped up by buyers, often on the same day!

In the current situation, REALTOR consensus suggests a continued shortage of listings for this market all through 2021.  Buyers are not even sure what 2022 will bring, but it is quite possible to see some normalcy return.  Some of that hope is based on a successful vaccine program, where many reluctant potential sellers will step out the door to modify their home situations.  With an increase in available home listings, Buyers needing to finance, will then be able to enter the bidding war.  Home prices will level out some, but demand should remain high until 2025, if nothing catastrophic changes.

There are many real estate websites vying for attention, offering information on listings, because they are selling advertising space.  What might seem current, is hampered by time delays, conveyancing issues and a host of other time-sucking paperwork, so availability is always in question.  Your REALTOR has up-to-the-hour information.

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