Here’s the source article — but it’s now dated and the idea it’s wrapped-within is silly IMO, but everyone is entitled to an opinion. https://www.thehabistat.com/post/this-is-how-canada-can-swiftly-slash-home-prices
STILL TOO EARLY to say anything more than “we’ll likely know the trend for sure in July 2022” I’ll post the regular work-up after TrREB publishes Prices etc June 3-6th on Real Estate Blog UncleBobExplains.wordpress.com Comparing All Mays — Max, Min & Average We are experiencing the 20th Best May and it is being compared (Yr/ Yr is the…
14-17% below Average Inventory is a huge improvement(30%) over last month (March 2022) No one talks about the 25%-35% OVER-COUNTING of NEW LISTING — this chart’s recent Red Line assumes 25% of a Month’s TERMINATIONS are valid. (ie not re-lists at adjusted Asking Prices) Ron’s and TrREB’s chart makes Inventory & New seem “normal” BUT…
DOUBLE-DIGIT Yr/Yr PRICE INCREASES in 27 of Last 29 MONTHS Using School-yr/Fiscal Year –TWO Year Price Gain (and 3 yr thanks to Kovid) is ~53% — That’s a lot! Prices still in Stratosphere (off by 6% from Peak)– which may not last The Second 1972 View, puts the recent (2010)Price Blast-off in perspective
Kinda Sad compared to 2021’s Record for April — but too soon to be an indicator Lots of aspects are 20% below average — just as recent months were 20% OVER average Bar Chart shows the same — Sales charged ahead while Listings lagged (not demonstrated here, on Ron Hauth’s nice Chart) – but on…
Apparently there is an inverse relationship between Interest Rates & House Prices (esp when the Rates are increased by 50% — ie from 2.99% to 4.49% Same CPI adjusted Data — but with 1989 (Prior Peak) set as 100 HERE’S were the the Rubber-meets-Road —-MONTHLY PAYMENTS at Record Low Rates
8008 Sales Spread over 4 GTR zones Separating By 905 vs 416 Look at the Prices separated into Different TYPES PRICES Charted by Separated Zone – gap narrows And Sales by 416 vs 905 – both off by 15-19% from Average
unclebobexplains 