Thursday, January 25, 2007

Unsold condo inventory rising

According to this article in todays Vancouver Sun condo inventories have risen sharply over the last six months.

Greater Vancouver real estate markets saw a 55 per cent increase in inventory of unsold presale condominium units over the last six months, which may trigger a slowdown in future development, PricewaterhouseCoopers reported today.

The rising inventory is likely a result of fewer buyers being able to afford Vancouver's high-flying prices, Craig Hennigar, vice-president of PricewaterhouseCoopers Real Estate (PsC), said.

Hmm rising inventory, fewer buyers able to afford asking prices. But prices will keep going up right?

update: Here's the same story in Fridays issue of the Province.

         

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