Andrew Lis, Director of economics and data analytics for the REBGV, has transformed the data by indexing it to an initial value to compare different cycles over time. By analyzing historical tightening cycles and their impact on sales and prices, Lis predicts that sales might return to normal in about 12 months, while prices could be back to normal in a little over 6 months if the current cycle tracks the ’82 cycle. However, he cautions that anything can happen.
Copyright Real Estate Board of Greater Vancouver. Reprinted with permission. REBGV makes no guarantees as to the accuracy or completeness of this information.