Empty Open Houses – “The surreal experience of being the only ones there”

The slowdown has very definitely commenced. Here are some observations from umdesch4 at Vancouver Condo Info June 7th, 2008 8:46am -

“Price declines are already starting in some areas. One SFH we saw two weeks ago (in Port Moody) dropped the listing price from $719K to $688K overnight. Just in the time we were looking, a couple of other places in Coquitlam fell off the MLS listings, only to re-appear cheaper. Otherwise, all of the couple dozen or so listings we started looking at between a month and 6 weeks ago are still up. Oh, and did I mention the open houses? Two weekends ago, we had the surreal experience of going to 4, and being the only ones there. I’ll admit that this is only anecdotal, based on a small sample (of SFHs only), and in the outlying areas of the GVA…but I can’t help thinking it might be a sign of things to come.”