Moderate Price Drop Graph – January 7, 2013
January 7, 2013
Posted by on
Yesterday I posted a chart showing how Vancouver West’s descent over the last 8 months from its peak, which has been called moderate and flat, is actually coming down at a faster rate than any US city. Vancouver West dropped 8.6% in the first 6 months and 11.1% in 8 months. There were two issues with yesterday’s posting – firstly, there were no pictures and who doesn’t love a graphical chart. Secondly, I only used the data from Vancouver West. To me this was reasonable but I can see why there were some objections.
In this chart I have combined the data from Vancouver West, Vancouver East, North Vancouver, West Vancouver, Richmond, Burnaby and New Westminster. This is a good representation of the metro Vancouver area and is a more accurate comparison. By combining these additional areas the peak is no longer April 2012 but rather May 2012. The result as you will see below is that the Lower Mainland is still dropping faster than any American city from its peak.
Click the image to see the full size image