Summary
20% less sales than last March
11% less listings than last March
3% less inventory than last March
MOI is 8.4
Benchmark, the number that keeps on giving... up a fraction of a % for SFH and Apartments and DOWN 1.7% for attached.
I suspect the criticism of the cannot-go-down-benchmark must have reached the Top brass.
The President says in his statement..“Inventory levels are not as high as they need to be to put significant downward pressure on prices of the benchmark, or ‘typical’ home. These are homes that have characteristics most common to houses in a given community."
Hmm..with an MOI of 8.4 and sales 70% of the typical March I would suspect there is some downward price pressure. Any Fraser Valley readers out there wanting to comment on what they have seen?
The details are here.
Revisiting the Trump trade
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*Preface: Explaining our market timing models*
We maintain several market timing models, each with differing time
horizons. The "*Ultimate Market Timing Mo...
5 days ago
The details aren't there.
ReplyDeletesorry - corrected.
DeleteThe key right now is to observe actual sales, in this instance data is a closer representation of the true condition of the RE market than subjective mathimatical manipulations
ReplyDeleteThis comment has been removed by a blog administrator.
ReplyDeletefish I would say the 'benchmark' Fraser Valley home is down a lot. Just look at Chilliwack and Mission to see how many big price reductions there have been. BTW, did you see the RBC news on outsourcing their IT department?
ReplyDeleteI saw that. Will put up a comment shortly.
Delete514 new
ReplyDelete219 price change
220 sold
7030 detached
8759 attached
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