Of course 2012 was a dreadful year so any increase, no matter how small, is cause for celebration right?
For example there were 1,212 detached property sales in Vancouver in May, up from April’s 1,064.
But those sales are down 22.8% compared to May 2012.
Detached unit sales in May 2013 totalled 534, an increase of 3.3% compared to the 517 sales in May 2012.
That figure, however, is down 7.8% from the 579 attached properties sold in May 2011.
So it all comes down to how you want to look at it.
Perhaps the coming glut of 'good news' will perk up these sellers? Observer's Vancouver Price Drop is back after a three week break. He has the monthly drop for May 2013 for us and and the top 20 properties this time around combine for a stunning $98 million in price cuts from their original asking prices. If there's a group that needs confidence and massaging it's this bunch.
Presumably they are still depressed from reports, like this one, which trumpet that Canadian homes remain the most overvalued in world wide rankings.
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