Another underlying factor is that Mortgage Financing is starting to tighten up. I know of two deals that fell through due to the inability to secure financing. Inventories will rise and sales will decrease and the glut of downtown condos will create a huge over-supply and prices will fall, dramatically. The % of pre-sold condos is decreasing and speculators are trying to rent or sell or bailing out and forfeiting their deposits. Once the snowball gains momentume then we'll see a dramatic rise in listing perhaps by October/November. For those looking for a steal and who sold 6 months ago at the peak, hang in there and wait , not necessarily for a massive downturn, but for the unfortunate foreign investor that is losing his shirt in San Diego and Florida and Sinapore and is starting to panic about the ripple effect in Vancouver and is astute enough to take a loss now before it gets crazy. Relieve the poor schmuck of his anxieties and pick up his over-priced condo for 50 cents on the dollar which is what it truly is worth