Monday, June 13, 2011
Market Update - June 2011
by Ben Chimes on Mon, Jun, 13, 2011 01:51 PM
With the entire city of Vancouver rightfully distracted with the Canucks run to the Stanley Cup (is tonight the night????), real estate has not been at the top of mind for many people. As such, I will keep this month's update short and sweet.
As expected, the trend that started in April, that of declining sales and increasing inventory, continued through May. And I suspect it will continue right through the Summer. We also saw prices slip a bit this past month, which makes sense given the rising inventory levels. This is especially true in the detached market, which saw a big spike in April and fell right back down in May. Expect a relatively peaceful market over the summer.
Enjoy the game tonight and some sunshine the rest of the week!
