Balanced Playing field for Buyers & Sellers in Vancouver & Victoria

We have been waiting for some great new that can be substantiated. From this graph the Listing to Sales Ratio has pushed it's way into the area of balance. I believe this is the best for all Buyers and Sellers alike. It is what I like to call a balanced playing field where the number of Sellers and Buyers are equally matched. This can also be looked at as a healthy representative in the Market Place. In the recent past (late 2008- early 2009) we experience a market where their were no buyers and prices fell. If you look at the years of 2005 - 2008 we saw a market where homes were selling faster, in multiply offers and prices were rising. Note: From what I see in the market place and projecting out into the future I see a further upswing in the market place with prices moving up and eroding our losses from the previous year.

The following are a few points of interest for everyone.

1) British Columbia Real Estate Association (BCREA) reports that MLS Residential Sales rose 53% to 10,051 in July 2009, compared to the same month last year.

2) Chief economist for BCREA Cameron Muir state "Record home sales in Metro Vancouver and Victoria propelled the province into balanced conditions".

3) Year to date MLS sales declined 10% to 21 billion over last year.

4) 46,380 homes were sold in the first 7 months 2009. That's down 6% from 2008 figures. The Average MLS price is still down 4% to $451,758

For the complete news release, including detailed statistics, follow this link: www.bcrea.bc.ca/news_room/2009-07.pdf.