tag:blogger.com,1999:blog-31427364.post6462677897211195162..comments2024-03-26T03:52:23.395-07:00Comments on Housing Analysis: Greater Vancouver Real Estate Analysis - April 2008mohicanhttp://www.blogger.com/profile/06094213357140749289noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-31427364.post-34225118623669336312008-05-03T09:17:00.001-07:002008-05-03T09:17:00.001-07:00FV that is - thanks Jordan.FV that is - thanks Jordan.oh pleasehttps://www.blogger.com/profile/07952659888033116608noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-7712175471477113272008-05-03T09:17:00.000-07:002008-05-03T09:17:00.000-07:00For SFH there's a slight decline in average and HP...For SFH there's a slight decline in average and HPI, median is up.<BR/><BR/>Overall things look flat except for listings which are going through the roof.oh pleasehttps://www.blogger.com/profile/07952659888033116608noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-23452940870671509132008-05-03T00:11:00.000-07:002008-05-03T00:11:00.000-07:00Hey guess what I found!The FVREB released their st...Hey guess what I found!<BR/><BR/>The FVREB released their stats on their website, even though they haven't officially announced it or put out the press release, if you put in this direct URL you can download it:<BR/><BR/>http://www.fvreb.bc.ca/statistics/Package%20200804.pdf<BR/><BR/>CheersJordanhttps://www.blogger.com/profile/14261191417363201262noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-17541522704247113052008-05-02T22:47:00.000-07:002008-05-02T22:47:00.000-07:00We're shocked - shocked - by the number of sales t...We're shocked - <B>shocked</B> - by the number of sales to speculators.<BR/><BR/>Yeah right. <BR/><BR/>"The smart money buys early". Now where did I hear that line? Appealing to speculators? Perish the thought.<BR/><BR/><I>Reasons identified, were the tightening of lending practices to both developers and consumers, and a change in market psychology.</I><BR/><BR/>But we just can't bring ourselves to talk about what really matters - the <B>prices</B>, can we?patriotzhttps://www.blogger.com/profile/11154064267408955762noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-19867249477326617992008-05-02T20:56:00.000-07:002008-05-02T20:56:00.000-07:00Represents around a 4% drop in the average price m...Represents around a 4% drop in the average price month over month for detached housing. Not insignificant. However, if the REBGV was publishing their daily or weekly data( I recollect from Paul B's website) it would have shown that prices peaked around the $975,000 mark in March. That would represent approximately a 10%retracement in prices! Given the parabolic curve of the average price graph over the last 4 or 5 years, I think we are witnessing the blow-off top of this bull market.<BR/><BR/>I was at the Real Estate Forum in Vancouver this week. This is the big event of the year for the real estate industry, with all the big players in the development industry in attendance. It was a decidely gloomy affair, by its normally upbeat confident standards ( in recent years at least), with comments from some of the more candid major players, about the market( both commercial and residential) having ground to a halt over the last 60 days. Reasons identified, were the tightening of lending practices to both developers and consumers, and a change in market psychology.<BR/><BR/>I heard an interesting comment from a major residential developer (Bosa) that they had totally underestimated the number of speculators who had purchased into their condo developments. The true number, which was shocking, was only evident following completion of the buildings. To use their words "the elevators were hardly being used".<BR/><BR/>Lardy BoyLardy Boyhttps://www.blogger.com/profile/05881826166357507951noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-53801345362347716652008-05-02T16:40:00.000-07:002008-05-02T16:40:00.000-07:00We will know the market has turned when the sales ...We will know the market has turned when the sales drop off a cliff. Sales are still surprisingly strong although lower than previous years. The switch from 'balanced market' to bear/buyers market will arrive when sales drop in the 25%+ range.mohicanhttps://www.blogger.com/profile/06094213357140749289noreply@blogger.com