Wednesday, June 5, 2013

Lets have a look at the FV

Stats Package here

Well into their correction.

Here are some of the salient numbers. All quotes:


1,379 sales in May, a decrease of 15 per cent compared to the 1,616 sales in May of last year

the volume of active properties to 10,651 the highest it’s been this year and 2 per cent lower than those available in May 2012.

Sales are about 20 per cent lower than normal for this time of year, while the number of new listings coming on stream is right on average.

YOY price changes:

Median prices

detached -0.7 % townhouse +1.1% apartment -1.1%

Average prices 

detached +4.2% townhouse +1.1% apartment +2.6%

benchmark prices 

detached +0.3% townhouse 1.1% apartment -1.1%

HPI for apartments peaked in 2008 and never really recovered from the financial crisis. It is now about 9-10% lower. HPI for detached and attached is about 3-4% lower than the peak of 2008.

A real investment in the Fraser Valley would not have done well for the last 5 years.

Vancouver would have seen a similar correction had it not been for the lunatic shenanigans of the CMHC and banks, which have helped drive housing well out of the reach of ordinary Canadians. All I can say to the out-going CEO, is good riddance.

MOI 7.7, well into buyer's territory


6 comments:

  1. Oh yes...

    450 new
    263 price change
    192 sold

    7672 detached
    9277 attached

    ReplyDelete
  2. It's starting to look like renting over the last few years has been a good idea. Especially if you invested that down payment money in the US stock market

    ReplyDelete
  3. IT IS A MESS SO MANY CONDOS & PEOPLE NOT BEING ABLE TO RENT THERE BASEMENTS CAUSE OF BRAND NEW CONDOS FOR SIMMILAR RENTS

    ReplyDelete
  4. 411 new
    267 price change
    213 sold

    7687 detached
    9310 attached

    ReplyDelete
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