How will all that play out into the real estate market? We’ll just have to wait till next month to find out. For now let’s look back on the month that was.

Volume-wise it was fairly flat (balanced) with sales and listings continuing on. Price-wise it was mixed with Detached Housing still leading the way.

If those on the sidelines are to take any encouragement it is that the Board has reported above 10-year averages in listing volume and below 10-year averages in sales BUT only in regards to the month of June. Not much of a carrot if you ask me.

My call for July is that we will see steeply dropping listings volume and sales will drop with less choice out there. Mortgage rates will be going up but I believe that to be another scare tactic by a big bank (RBC) as they have done repeatedly so in the past and they will drop them within 45 days. We’re in a summer market now and that means in Vancouver that hearts and minds turn to soaking up sun, getting out on a boat, heading out for vacation, and enjoying the patios. And that’s just the Realtors! It does not mean so much for real estate and I expect it to be slow.

Enough of my diatribe… on with the stats!

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