The map is interesting as I am in the Fleetwood battle zone. Within three streets of me there are 10 SFH for sales from $640k to $850k. The $850k has been on the market for about four months and I haven’t seen much activity. Three houses on these streets sold for around $649k last year pretty quickly, although one house sat for sale at this price point all summer and was eventually taken off the market. I’m watching these properties closely for any price drops.
Interestingly I have three townhome developments bordering these streets, one of which opened last week. The larger one launched last October and sales have been really slow. Across all 3 there are about 250-275 houses in development.

Vancouver real estate pricing seems to be frozen in the headlights hampered by slack Y/Y sales http://www.chpc.biz/vancouver_chart.html

It looks similar to the stock markets… prices wafting about on thin volume.

Opposite story in Calgary http://www.chpc.biz/calgary_chart.html
and Toronto http://www.chpc.biz/toronto_chart.html

…prices are busting out.

Ok… Calgary has money flow (AB earnings 20% above the National Trend, 25% above BC) http://www.chpc.biz/earnings.html
…and I guess Toronto has population wealth despite an Ontario 7.7% unemployment rate.
… and maybe the bullish real estate fever out of the U.S. is infectious and driving the spirits up here.

But that VMD Battle Map looks like a telltale for the rest of Canada. A steady shift of sentiment. I’m seeing a similar negative bias from my little poll, results here: http://www.chpc.biz/poll.html

Cheers, BR

Interesting that North Van is down YOY when MOI is so low there. Could it just be changes in sales mix?

I’m starting to see a similar pattern to last year for Van west. Prices have stabilized slightly compared to 2-3 months ago. This happened last year through the spring season too. I don’t think we will see prices rise, and I don’t see a crash yet.
Van east looks like there is no crash happening. Prices for all properties have been fairly stable for all property types. I see weakness in a particular development, 2300 Kingsway. With 350 units here, there are still 76 available direct from Wall. 10 more on MLS and some on CL.

Richmond is another story. I could see a sharp correction here this spring & I don’t see stabilization for all property types in all areas anytime soon.

space889, read the original report instead of the summarized news articles. Vancouver was ranked 16th overall (see page 22).

5 sales today in BC supreme court it seems that is the norm, so if we averaged 100 sales a day, 5% are foreclosed. Yikes

“5 sales today in BC supreme court it seems that is the norm”

Would be interested to know your source. Were there roughly 5 every day this week? What about a year ago?

RE: Broadway corridor

Let them ride bikes.

#12 Foreclosure: an interesting take on foreclosure, using daily Vancouver court list versus daily Vancouver sales. If there were 5 foreclosures resulting in 5 sales on a daily basis, obviously that would comprise around 5% of sales. Unfortunately it would not necessarily reveal much about the overall number of foreclosed properties unless you assume that foreclosed properties sell at the same rate as not foreclosed properties. I tend to doubt that such an assumption would be valid.

@foreclosure (#12), What is the maximum foreclosure adjudication capacity of the Vancouver region foreclosure courts? If it is only 5 per day, then the docket schedule backlog would be very interesting to track. eg: adjudication months of inventory.

Just got a phone call from a friend, long term Vancouver resident, and definitely not media savvy.
He is looking for a place to rent because his landlord of many years wants to sell (= boomer cashing out). My friend wants to wait for at least a year before buying, “because of the current circumstances.”
Telling…

The rape of Canadian family’s budgets by an asset inflation happy establishment continues.
As we bow to the almighty mortgage-spawning beast.
It’s a computer-game-from-hell.
Except that this time it’s real.

Refreshing story from a homeowner actually living in their home and adding up the associated ongoing costs.

http://www.thestar.com/business/personal_finance/2013/03/06/i_reduced_my_property_taxes_by_appealing_the_asessment.html

“I was convinced my neighbourhood was overvalued, so I …”

Ya think? LOL!

Could we have economic system without inflation or deflation?

“Could we have economic system without inflation or deflation?”

Remove the central banks and get rid of fiat currency and prices should naturally slowly deflate to the benefit of the majority as technology and productivity improve.

System without money printing?

Then the crooks wouldn’t run for government offices and crown corps. Big multinationals couldn’t extort money from the masses.

It could exist but it would be an honest system.