Quote:
Originally Posted by GLOW
been keeping an eye on prices in certain areas of east van and burnaby the past 6 months. seems like prices are not going down for the area/type of home we're looking at but it's the same properties sitting there going unsold. some are selling but not a lot...that's from what i've seen when we're looking around.
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Takes a while - first volume of sales goes down (now and last 6 months), then inventory all of a sudden balloons, that's why prices start to tumble
We're in stage 1, I predict this spring will see an influx of inventory, then prices will be hit hard over the summer through end of 2013
But these are just my thoughts