Anyway the 'new' HPI shows a 7.1% YOY gain for SFH..
While Median is down 0.8% and average is up 0.5%
ie flat at best YOY.
MOI is 10.5
The HPI shows lots of losses (- numbers) over the last five years. eg Mission detached down 5% over 5 years or Abbotsford condos down 5% over 5 years. RE is all about timing .. some categories are down 12% over 3 years.
Look at the graph of sales/active listings ratio . Currently at 10% (same as an MOI of 10) and see how far it is in buyer's territory. The last time it got that lower was in 2008/9.
Any boots of the ground reports from the FV?
