The chart shows the bulls in charge prior to the 2007-2008 plunge that took the average Vancouver SFD price down $122,900, or 15.9% in 8 months (24% per year drop). The crash derailed the exponential doubling trend but after reignition prices doubled again in June of 2016 at $1,542,642 + $18,858. The next double was scheduled for around December 2021, but it is now unlikely that buyers are as fearful of missing out as they were in 1H 2016.
…also:
In February 2017, Vancouver detached house prices added very little drama to the slump from the July peak under the heavy weight of sentiment change and sales that are 53% below their March 2016 peak. The manic detached buying spree moved prices up 21.5% per year since the JAN 2013 low. Prices now are deflating at 11.4% since the peak in July 2016.
….read more and view chart HERE
