Drop From Peak Chart – January 2013
February 8, 2013
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Here is an updated chart showing the pace of the Lower Mainlands price drop from peak compared to other regions. 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. HPI data is being grabbed from MLS HPI
As you can see, after 8 months we are only above Miami. Our combined and averaged HPI drop from single family homes is now 7.57% with a drop of just 0.19% in January mainly due to 2.1% and 1.0% gains in West Vancouver and North Vancouver in January. The weakest area was Burnaby with an averaged 1.5% drop in the month. Typically HPI prices are stronger in the spring months so it will be interesting to see what develops.
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