Cheaprealty.net

Here is a story by Charles Hugh Smith that counter argues against a bottom being reached yet in the US Housing market, and how overly-optimistic predictions about absorption of existing inventory could be wrong.

If they are, it means inventory will continue to pressure housing prices lower for years to come. The idea that the Canadian housing market can successfully escape any influence from this declining market seems unlikely.

Well, here is an open thread for your comments on the real estate scene lately. As of today, a search of the MLS in the VREB area found 1083 condos. The breakdown shows 312 were listed below the March median price of $300,000, while the other 771 were listed higher. Grand total on MLS is now 1083. So this inventory is still growing every day.

A search of Craigslist found 136 condos listed for sale. As usual, by the time you click this link the number could go up or down a bit. But probably up.

Some other interesting stories to consider and maybe comment on:

I did a search for condos in the VREB area of the MLS (2008/02/27). The total continues to increase, though only slightly in the past few days. Today there were 1032 condos for sale!

The number of condo listings at Craigslist continues to grow. Today, there were 101 condo listings. Mind you, by the time you click the link, the number could go up or down.

In the attached graph, you can see the result of my usual inventory overview MLS search, which shows how many total properties were available in various price ranges, in the Victoria Real Estate Board area, on February 27, 2008.

Compared to the search a few days ago, inventory is up overall, with some increases/decreases in total listings in various price ranges.