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.
Foreign Investor Anecdotes from the Globe and Mail – “One of the more expensive homes bought last year is registered to a student who is not living there. It changed ownership three times in five years and is now empty.” - “A Beijing-based private equity manager who bought a $2.3-million home in the hot Vancouver real estate market said he did that while earning just $19,000 ...
8 hours ago