SFH Average is DOWN 2.3% YOY. Median is up a tiny 1.2% and yet benchmark is UP a huge 3.4%!
That combination must lay at the outer reaches of statistical likelihood.
Apartments are DOWN for BOTH median and average and yet UP for benchmark YOY.
It really does not make sense to me. I think I am going to ignore the Real estate board generated HPIs and Benchmarks and concentrate on medians and averages from now on to gauge the market.
More sales than last year but median and average prices took a beating. However the sample is small and can't read too much into it. MOI running around 15. Actually higher volume with lower prices would be better for everyone except speculators.
‘Extreme Speculation’ – “The problem is that the diversion of resources into investments that are only justified by the stream of new money and artificially low interest rates will destroy wealth at the same time as it is boosting activity.” - The Vancouver RE market can only be understood as part of a global phenomenon of too-cheap money encouraging ‘extreme speculation’. -vreaa “When the centra...
5 hours ago