Wednesday, August 1, 2012

SFH Average DOWN $200K from high, back to November 2010 prices.

Thanks as usual to Larry for being so quick with the numbers

SFH down to just over a Million. Down $200 K from the all time high.

Condos and Apartments took a big dive too, with Apartment average prices back to 2008 prices.

This all happened with mortgage rates at almost zero (3% fixed and variable 5 year) and with the panicky buying of early July as the last bunch of highly leveraged buyers were loaded on board the creaking ship HMS CMHC.

August will be very interesting indeed. 

PS sorry about the cliche picture. Had to put something up quick :)