Sales have been repressed this year because of low inventory. A few days ago I predicted we’d see more listings and consequently more sales this month. Unlike Garth Turner’s predictions, mine come true.
So far this month new listings are up 18% compared to last year, and sales are up 17%.
I have a lot of respect for someone who admits they screwed up. If you got it wrong, man up and admit it and move on. Denial and obfuscation is some people’s style, however. Yesterday Turner was taking credit for his predictions, but there are a few of his readers who can see through the spin, such as this one:
#97Vik on 04.11.13 at 12:08 am
Price went up 30-40% in the GTA. You call 15% correction? Nice try dude. More like a dent. I feel sorry for the people who listened to you for the past 5 years.
We all know what prices inflated. I’m telling you why this period is over. — Garth
It would be enlightening to know what excuse he would use for his incorrect prediction about Calgary’s prices dropping to 50% of 2006 levels.
I also predicted that we’d see lower prices when new listings increased. In April, the median price has dropped $10,050.
We’ll see how long the market can hold out with oil prices and most commodities falling.
How long do you give it, and what would constitute it “not holding out?” -Bob
Since March 1, seven homes have sold in Glendale of which 4 were sold over list price. The average amount over list was $24,300. The median DOM of all 7 homes was 3.
For the first 12 days of April, new listings are up 19% compared to last year. Following right along are sales, up 17%.