They do provide total sales volume which is a good number to watch. Bubbles need churn to survive, so the first sign of deflation will be a fall in volume, which makes the erosion around Vancouver look even more precipitous.
Friday, June 17, 2011
Serious Price and Sales Volume Erosion Around Vancouver
The BCREA--British Columbia Real Estate Association June 15 Release shows some serious erosion of average prices. Unfortunately, average is a terrible measure, easily skewed upward by a few high end sales, as even they admit in the Vancouver Sun. No medians forthcoming to help fix that, apparently.
They do provide total sales volume which is a good number to watch. Bubbles need churn to survive, so the first sign of deflation will be a fall in volume, which makes the erosion around Vancouver look even more precipitous.
They do provide total sales volume which is a good number to watch. Bubbles need churn to survive, so the first sign of deflation will be a fall in volume, which makes the erosion around Vancouver look even more precipitous.
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