Sunday, April 7, 2013

Fraser Valley

Summary 

20% less sales than last March

11% less listings than last March

3% less inventory than last March

MOI  is  8.4

Benchmark, the number that keeps on giving...  up a fraction of a % for SFH and Apartments and DOWN 1.7% for attached.

I suspect the criticism of the cannot-go-down-benchmark must have reached the Top brass. 

The President says in his statement..“Inventory levels are not as high as they need to be to put significant downward pressure on prices of the benchmark, or ‘typical’ home. These are homes that have characteristics most common to houses in a given community."

Hmm..with an MOI of 8.4 and sales 70% of the typical March I would suspect there is some downward price pressure. Any Fraser Valley readers out there wanting to comment on what they have seen?

The details are here.

12 comments:

  1. The details aren't there.

    ReplyDelete
  2. The key right now is to observe actual sales, in this instance data is a closer representation of the true condition of the RE market than subjective mathimatical manipulations

    ReplyDelete
  3. This comment has been removed by a blog administrator.

    ReplyDelete
  4. fish I would say the 'benchmark' Fraser Valley home is down a lot. Just look at Chilliwack and Mission to see how many big price reductions there have been. BTW, did you see the RBC news on outsourcing their IT department?

    ReplyDelete
    Replies
    1. I saw that. Will put up a comment shortly.

      Delete
  5. 514 new
    219 price change
    220 sold

    7030 detached
    8759 attached

    A good day.

    ReplyDelete
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