Those of you who read my blog regularly know my thoughts on trying to time a home/condo purchase perfectly to leverage every last bit of buying power. I think it is futile, and for buyers there are so many other important considerations in deciding when to buy (see my September 2008 Market Report for a more detailed discussion).

But if I were a person who was waiting for the absolute best time to buy a property according to the market stats I might take careful note of my last weekly Absorption Rate trend update:

Weekly Market Update

(click chart to enlarge)

The Absorption Rate may have hit a highwater mark last week and may be starting to move toward balance. The very best time to buy may be upon us now. I think this is the result of the effects I predicted in my last Monthly Market Report:

  • discouraged and show-weary sellers removing their properties from the market;
  • sellers with the option of renting doing so;
  • low fixed interest rates (possibly the best they are going to be in the next 12 months);
  • and buyers feeling the bottom may be upon us.

Who knows what 2009 holds, but the stats certainly suggest that now is a great time for buyers to buy.

See the full set of weekly stats here: http://www.andrewkyle.com/mlsca/home_page.php?page=weekly_stats

And here’s a bit of Batman humour about perfect timing:

(From Bully’s Comics Oughta Be Fun, http://bullyscomics.blogspot.com/2007/10/batman-master-of-timing.html)