2012: Worst July since 2008
Ring the bell! July 2012 has come to a close.
Soon we’ll see the press releases from the REBGV (and more entertaining from the GVREB) but it’s starting to look a lot like 2008 again.
Sales have dropped off dramatically, we’re down about 16% from last July and about 9% from last month.
Listings are growing slower than they did in the spring, but MOI is close to what it was in July 2008 according to VMD:
July 2012 Sales:
YoY: -16%
MoM: -9%
Months Inventory:
2012-07: ~8.5 2012-06: 7.8 2012-05: 6.3 2012-04: 5.9 2012-03: 5.3 ... 2011-07: 5.9 ... 2008-07: 8.8
http://vancouvercondo.info/2012/08/2012-worst-july-since-2008.html
