The Housing Price Index for May, 2009 has just been released.  Although prices are roughly 10% down from May, 2008, we have seen a very slight upward trend in housing prices over the past 4 months.  This is due to a higher demand, lower interest rates, and a declining inventory.  

	Feb/09	Mar./09	Apr./09	May/09
Det.	$1,170,886	$1,127,017	$1,237,674	$1,273,131
Att.	$635,072	$624,746	$641,206	$659,323
Apt.	$422,456	$422,264	$430,318	$444,076

The number of sales in the Westside of Vancouver for the month of May, 2009 have shown a marked increase from the month of May in 2008.  Sales of detached homes are up 59.5% compared with May/08, sales of attached homes are up 54.5%, and sales of apartments or condos are up by 25.4%.