Monday, June 04, 2007
May 2007 FVREB Statistics
May statistics were released today by the Fraser Valley Real Estate Board on their spiffy new website. Not surprisingly, sales were down from last year (-4%), inventory was up (+52%) and prices were up. I am a little surprised by the strength in sales but a little surprised by the inventory number as well - its more than I expected. I expected a small decline in Months of Inventory in May and it fell from 4.4 in April to 3.9 in May. The MOI number is much higher than the last two years for which I have statistics and is poised to head much higher throughout the rest of this year if the trend in sales and listings holds.