CLICK VANCOUVER HOUSING CHART TO ENLARGE
Vancouver Detached, Town House & Condo Prices |
The chart above shows average Vancouver Detached SFD, Townhouse and Condo prices. In May 2013, detached house prices continued resting on support with an up tick of 0.4% M/M while strata units ticked down 0.1% M/M and remained range bound trading at 2007 pricing. The detached SFD Eiffel Tower pattern is taking time to render the right side of the down slope, but according to The Vancouver Price Drop the downside takes 2-3+ years based on the U.S. experience.
If you are thinking of buying a Vancouver Condo as an Investment, see my Vancouver Condo Yield Case Study to see why the smart money is selling, not buying.
The sentiment polling is giving us a very bearish view (88% more bears than bulls) about the next 12 months; cast your opinion every month, VOTE HERE
The bearish sentiment is well founded. Average earnings in BC (Earnings Chart) hit a ceiling last month and now are 4% below the national average, 5% below Ontario and 21% below Alberta earnings. It takes 3.5 average BC wage earners (ménage à trois et demi) to buy an average Vancouver SFD (Affordability Table).
The "Green Hornet" keeps a Youtube video archive of Vancouver Real Estate News and An Observer is documenting the Vancouver Price Drops while the Village Whisperer pulls back the curtain on Vancouver's borderline personality disorder. Also The VREAA who aggregates the word on the street at the Vancouver Real Estate Anecdote Archive is back from an April 2013 publishing break.
If you are thinking of buying a Vancouver Condo as an Investment, see my Vancouver Condo Yield Case Study to see why the smart money is selling, not buying.
The sentiment polling is giving us a very bearish view (88% more bears than bulls) about the next 12 months; cast your opinion every month, VOTE HERE
The bearish sentiment is well founded. Average earnings in BC (Earnings Chart) hit a ceiling last month and now are 4% below the national average, 5% below Ontario and 21% below Alberta earnings. It takes 3.5 average BC wage earners (ménage à trois et demi) to buy an average Vancouver SFD (Affordability Table).
The "Green Hornet" keeps a Youtube video archive of Vancouver Real Estate News and An Observer is documenting the Vancouver Price Drops while the Village Whisperer pulls back the curtain on Vancouver's borderline personality disorder. Also The VREAA who aggregates the word on the street at the Vancouver Real Estate Anecdote Archive is back from an April 2013 publishing break.
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The Vancouver Bubble Deflator CLICK TO ENLARGE VANCOUVER DEFLATOR
In my select study, sellers are pricing high. 95% of these urban listings are still listed over $750,000. Listings available on the prime west side remain at elevated price levels driven by hopeful sellers looking for credulous buyers.
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