A report borrows a line from a 1989 Kevin Costner film to highlight the need for more housing supply in Vancouver.
“If you build it, he’ll come,” a mysterious voice tells Ray Kinsella inside Field of Dreams, prompting the character played by Costner to build a base camp field on his Iowa corn farm.
Another Kevin in real life, this time Kevin Skipworth of Dexter Realty, uses this phrase that has become a part of popular culture.
Skipworth, who is a partner, broker and chief economist of the Vancouver-based company, gives it some twist.
“Real estate in Vancouver Metro is not like the Field of Dreams, where it was‘ If you build it, they will come ’,” Skipworth wrote in a report on Wednesday (November 17).
It’s more like “we have to build it, they’re here”.
In the report, Skipworth noted that there are only 8,125 total active listings in Greater Vancouver as of Nov. 15.
“The lowest we’ve seen at this time of year was in 2003, when there were 8,700 active listings in November,” the realtor explained.
Earlier this month, the BC Real Estate Association released a report noting that those home listings across the province have dropped to an “all-time record low for the province”.
The BCREA noted that the total number of homes for sale in October 2021 fell to 19,214, the lowest since 2000.
The association included a graph in its report that had the title asking, “How low can they go?”
In his report, Skipworth also asks a question about how the direction of lists.
And that’s, “Where will it be when we start 2022?”
“There’s still a hesitation for sellers to come on the market because finding the next home when you’re selling is still the bigger challenge,” Skipworth wrote.
There is strong demand, but not enough homes to choose from.
“Those looking for separate homes don’t have the luxury of more product coming from developers,” Skipworth noted.
“Townhouses aren’t much better,” he continued. “Too few and far, and for what is available, is a race to see who can find it first.”