Once again we thank realtor Larry Yatkowsky who promptly provides monthly statistics for the interested to peruse.
The big news for this month? Vancouver's detached home price hits another record high at $1, 361,023.
VMD over on Vancouver Condo Info provides an interesting comment on February's real estate sales.
Vancouver February 2014 estimated sales will come in at approximately 2,500. That's an impressive 39% increase over February 2013. Presumably the R/E media will highlight this fact as evidence the real estate market is surging back.
On the flip side, the February 2014 sales are -4% when compared to the 10 year average. January 2014 sales, when compared to the 10 year average, had surged 6%. So February 2014's totals failed to maintain that sales surge.
As VMD says, wonder which number the papers will use as headline?
================== VMD over on Vancouver Condo Info provides an interesting comment on February's real estate sales.
Vancouver February 2014 estimated sales will come in at approximately 2,500. That's an impressive 39% increase over February 2013. Presumably the R/E media will highlight this fact as evidence the real estate market is surging back.
On the flip side, the February 2014 sales are -4% when compared to the 10 year average. January 2014 sales, when compared to the 10 year average, had surged 6%. So February 2014's totals failed to maintain that sales surge.
As VMD says, wonder which number the papers will use as headline?
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This is absolutely fascinating to watch. How high will it go before collapsing? We should start taking bets...
ReplyDelete"Detached" really is a much more insightful descriptor for a house in Vancouver than anyone seems to appreciate.
ReplyDeleteSome people have a fear of flying because they don't understand how a plane can sty up in the sky. I have a fear of buying because I can't figure out how Vancouver real estate price stay so high.
ReplyDeleteWhere is the money coming from. Even if prices are down - where is the money coming from?????
ReplyDeleteAnyone looking at that graph can't deny that it's a bubble, however it refuses to pop. How is this possible?
ReplyDeleteThe detached market is detached from reality. Don't forget that most of the action is being pushed by just a few postal codes. Instead look at apartments and attached housing for a better signal of what is taking place for the average person.
ReplyDelete