Just over a year ago I wrote in the comments my prediction for 2012: "Prices will continue to creep down, and the 6 month average will end next year under $590k".
Well, that didn't quite pan out. Prices did nudge down, but the 6 month average as of Dec was $598k.
So I'll try again.
- VREB Sales for 2013: 5800
- 6 month SFH average in Dec 2013: $565,000
- BoC overnight rate Dec 2013: 1.0%
- Average MOI for 2013: 10
Monthly average and medians are far too volatile so I don't predict based on those. Over at VancouverCondoInfo they have a prediction contest for 2013 based on the MLS HPI for June and December. In little old Victoria we can use the Teranet index instead, so here's my prediction for Teranet values in 2013: