Confusion reigns the day. Please take this quick post with some slat and correct any errors.
We have a new method of calculating HPI which the REBGV says we should not compare with previous HPI's and then it goes ahead and compares it... and lo and behold there are two charts with completely different numbers.
While we sort though this confusion, here is what is certain:
"We are seeing trends emerge that favour buyers.." so says the REBGV Prez.
13% less sales than last year. 18% less than 2010.
19.9% increase in new listings from last year (Jan 12 v Jan 11)
253% higher than December 2011
Total listings up 20% from last Jan. Highest Jan listings since 1995.
MOI = 12544/1577 = 7.9! Is that right.
Now here is the confused mess:
Press release chart with HPI chart
Another HPI chart
The second one shows a LOT more areas with 5 year negative values and makes more sense to me eg Whistler condos; which is +95% on the first chart and -6.8% on the second. I presume one is using the old HPI and one the new, though the discrepancies are just too large.
Can anyone make sense of this? Jesse? anyone else? I am too busy to try and plow through it right now.
Sure would like to see the median prices.