Metro Vancouver’s real estate rebound marked by ‘market irrationality’

The average price of a detached bungalow on Vancouver's east side hit $674,180 in the first quarter of 2010, a 25-per-cent jump from the first quarter of 2009, realtor Royal LePage reported Thursday in its quarterly survey of major-market housing prices.

A standard Vancouver east-side condominium saw an even steeper gain of 29 per cent to hit an average $402,000.

And an average Vancouver west-side bungalow, which dipped as low as $950,000 in the first quarter of 2009, had roared back to an average $1.15 million, a 21-per-cent gain, in the first quarter of this year.

To read this article, click on the link below:

http://bit.ly/cYXJbj