“Did a walk around my neighbourhood today in south surrey and noticed 3 houses that have been for sale since at least spring that no longer have for sale signs as of today. Guess gave up, I’m sure they’ll be back trying to sell in the spring. Inventory will probably drop off significantly Nov 1 after October expirations.”
– Groundhog at VCI 26 Oct 2012 5:33 pm
Yeah. Spring inventory will very likely be made up of:
1. Normal annual spring new-listings, plus
2. Everybody who couldn’t sell in 2012, plus
3. Those who have gotten wind of where prices are heading and have decided to come to market earlier than intended.
In other words, regular supply, plus that left over from the past, plus that sucked forward from the future.
A convergence of supply.