FVREB May 2010 Statistics

The Fraser Valley Real Estate Board has released the statistics package for May 2010 and here are the details.

Sales were 1477.


Active Listings were 11,411 at the end of May.


Months of Inventory rose significantly to 7.7 MOI which puts the FV solidly into price decline territory.


The MOI relationship with price changes is extremely robust as evidenced by May with a MOI of 7.7 and a price decline of -0.8 for the benchmark of all residential properties changing hands in the month.

I expect MOI will climb much higher this year and prices look set to decline dramatically.

Check out the entire statistics package here.