The Fraser Valley Real Estate Board released the monthly statistics package and here are the highlights.
Sales were 1,293 and are at quite low levels compared to recent years.
Active listings have not grown as much as last year for some reason. I expect this may change as job losses mount and sales slow down.
Months of inventory has fallen dramatically but remains at a high level of 7.6 and April or May are traditionally the lowest month for MOI. This bodes ill for those expecting price increases in the remainder of 2009.
Prices and MOI are very tightly linked and this relationship remains resilient.