Sunday, July 7, 2013

No HAM means no bacon?

Fraser Valley...

No bounce in the FV. MOI sits at a whopping 8.5.

9 per cent lower sales in June 2013 compared with last year
significantly below 10 and 20 year averages.
volume of active properties at 10,515 a decrease of 1 per cent compared to June 2012

As always the Fv benchmark has been the most sticky in coming down. Defying lower volume, lower averages etc and still hanging in there. It was no different this time

Fraser Valley was $552,200, an increase of 0.2 per cent compared to $551,000 during the same month last year. For townhouses, the benchmark price was $298,700, a decrease of 2.1 per cent compared to $305,000 in June 2012 and the benchmark price of apartments was $202,500, 0.8 per cent less than in June 2012 when it was $204,200.

I suspect the real benchmark or standardized median is a lot lower than last year.