Thursday, September 02, 2010

FVREB August 2010 Statistics

The FVREB releases stats today. Here they are.

A notable note is that the price of the residential benchmark is down -0.3% from August 2007.

Flat prices for 3 years is starting to take the wind out of the sails of the relentless pumpers. The psychology is changing and the fall should be interesting.

Charts to come later.


alexcanuck said...

Everything OK? Did I miss a post announcing a hiatus? Are you just testing to see if anyone notices?

jesse said...

ac, nothing much to report these days. I just finished posting my price prediction data on google spreadsheets. The negative correlation between half-over-half price changes and MOI is still tight.

What does this mean? I'm looking at MOI to trend higher for the rest of the year, probably between 7 and 8 for Oct/Nov and a bit higher in Dec. That will throw the detached benchmark to around $725-750K by the end of the year.

Next year should be interesting. We're heading into uncharted waters.