Those regular readers of the “update” know that I spend 2/3rd of these “gentle rants” talking about cycles – for that I do not apologize (hopefully not confused with ‘spin-cycles’). It is in our ability to judge the likely point we are at, at any particular time, that the most valuable knowledge to assist with decision making exists.
To buy, to sell, not to buy, not to sell – to wait, perchance to dream….. (sorry, wrong soliloquy…. likely wrong play too!!)
In the ‘peak’ or ‘valley’ jargon, most analysts would likely agree that we are slowly (but surely) bidding farewell to the low point of the trough. Personally I see that as having been on the 17th of July this year at 7:42pm just as I was pouring the guests their second glass of chardonnay (or was that the Merlot?….I forget). I refused to apologize in the second sentence …..this time, maybe I should….!)
Yes, hindsight is definitely more easily digested than prediction! Alright, by way by way of apology, or should that be “to atone” for my facetiousness, I will now beat myself with a spherical crystal object.
What will we be discussing (market wise) over our July 17th 2014 dinner with friends? In a nutshell – 3 to 5% higher selling prices and one half of 1% increase in 5yr mortgage rates with the likelihood of more increasing rate action as 2014 exits. A sidebar will be the surprise expressed by those of us sitting at this future table, as to how quickly the mid-2013 inventory of apartments seems to have been reducing (not gone, but not nearly as intimidating!) Oh yes, and Tortorella has coached a Stanley Cup win! OK forget that last one, not my area of expertise (more like wishful thinking).
‘SnapStats’ (what price ranges are selling and which are not) is being very well received. I’m now forwarding the past 12 month trend for not only N and W/Van but ALL available metro neighbourhoods, as many requested. If any locations are not of interest, please ignore those areas.
So, visit my website to see and “hear” the new developments. I continue my commitment to keep you… www.OnTopOfTheMarket.ca – the “go to” site for N/S R/Estate analysis and jump-off point for FULL market information.