Tuesday, May 04, 2010

Fraser Valley Real Estate - April 2010

Here are the charts:

Active listings are increasing at the same pace as 2008.


Sales are still brisk but May could mark a turning point as it did in 2008.


Months of inventory is at the high side of normal and looks to be matching 2008. It will take a drop in sales to get to the extremely elevated levels of market distress we saw in 2008.



Correlation between MOI and price changes is extremely robust and we should be looking for price decreases through the summer if normal seasonal patterns hold up.

10 comments:

JimTan said...

"Months of inventory is at the high side of normal and looks to be matching 2008. It will take a drop in sales to get to the extremely elevated levels of market distress we saw in 2008."

Just means that you get another chance to do what the rest of us already done!

first_time_buyer said...

LOL, I saw one comment and guess what I knew who that was.

Squaarrk, buy 3, husband buy 3!!! Raaaark, buy 3, husband buy 3!!!! Squaark. opportunity to buy!!! squark!!!!

Sorry metalhead, it was difficult to resist the temptation

Tony Danza said...

Just means that you get another chance to do what the rest of us already done!

Bury ourselves in debt for an albatross around our necks? Sounds like a hell of a deal Mr. Parrot.

JimTan said...

Tony,

You can remain a renter for the rest of your life.

Did metal show you the picture of the turkey I flashed at him?

Tony Danza said...

Squwaarrkk priced out forever, Rwaarkk buy now or be priced out forever!

JimTan said...

It is a fact that prices are up 20% from March 2009. Fact that prices are up at lot since 2004 and 2001. Can you deny that?

Tony Danza said...

Squwaarrkk!

first_time_buyer said...

LOL Tony. You are hilarious.

JimTan said...

Hmmm!

Is that a yes or no? I can never tell with parrots!

david said...

Yes Jim, prices are up.

Tell me which makes more sense.

Buy low, pay off the mortgage quickly.

OR

Buy high, pray rates dont rise and pay the mortgage off after you retire?

Prices have gone up very quickly, does that make it a better time to buy, or a time to wait till prices come back down to earth?

Saying prices have gone up substantially doesnt make me want to buy.

Try another pitch.