Back in June of 2008 Vancouver’s housing market was in the middle of a steep dive as it recorded only 33,136 sales. The decreasing number of sales continued to twist and turn as it dropped to September 2008′s total of 28,475 sales. That particular dive straightened months later with a grand splash as April 2009 recorded total sales of 21,459.
It appears that the dive graph called Vancouver house sales contains indicators that the market may surpass September 2008′s lackluster performance with June 2012 recording 28,617 sales – only a few hundred sales separate the two... and its indicators (suggest) Vancouver’s real estate market’s performance is not about to straighten.
Emergency level interest rates pulled Vancouver out of the last slide.
That stimulus won't be available this time so you can understand Yatkowsky's concern.
You have to wonder at what point those alarm bells will start to sound with the average joe on the street. Because when they do, then the sales crash will become a price crash.
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