Good ol'Larry out with the numbers asap and we are down significantly on the average price.SFH dropped an astonishing 6% MOM. 1134K to 1064K.
SFH prices are now up less than 2% YOY and Apartments are up 1% YOY. RE is now lagging inflation and even GICs!
SFH Inventory is up 17% from last December, while sales are DOWN 17% from last year.
This could be it boys and girls!
Here's what I said earlier in December
.. we could see it drop down and if so it could be quite precipitous. It is far too tough to call, we will have to wait for the data.
The pattern I mentioned in this post resolved downwards.
MOI for SFH = 7.5
MOI for apartments = 6.6
MOI for attached = nearly 8
Wow. Down 14% from the peak.
ReplyDeleteWe should negative YOY soon
Yikes -- MOI in Toronto is around 2.
ReplyDeletei can only hope the trend continues and listings surge in the weeks and months ahead.
ReplyDeleteBC assessment 2012 is out.
ReplyDeleteHuge hikes in property taxes for Vancouver, Burnaby, Surrey ... expected.
Bah.
ReplyDeletelong time coming. bring it.
ReplyDeletedon't you worry none fishy, this time it's real and its going to be nasty.
ReplyDeletehttp://www.robchipman.net/2012/01/03/housing-affordabilitysustainability/#comment-3125
ReplyDelete