Realtor Larry Yatkowsky is out with the monthly stats and the average price rose slightly again. Larry has also posted the top 25 west side sales for the month as well as giving us an updated listings chart for 2011/2012/2013:
As always we thank Larry for posting and sharing this data.
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![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
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Not that it has me thinking that prices in Vancouver are going anywhere but horizontal or south, but I must say it always seems very quiet on this blog from both the author and the readers when an entry is posted and it reflects something contrary to the accepted truth.
ReplyDeleteWell said Michael!
ReplyDeleteBears just need some patience, but that chart, specifically the detached SFH, looks like a bubble if I've ever seen one. Real estate bubbles take much longer than other assets to inflate to bubble proportions, years and years. But that climb from 2003 to present looks a lot like silver in 2011. We have topped out, and are currently at the "return to normal" stage in the cyclical bubble (http://goo.gl/QHyz6).
ReplyDeleteMake my words, we're returning to the MEAN, which, according to that chart above, is roughly $550K for Detached SFH.