Re:Bank of Canada increases overnight rate target to 1 per cent
by refurb on Wednesday September 06, 2017 @01:24PM
(#15185419)
Real estate is local. I've seen multiple listing in the Toronto area, SFH, that haven't sold and are delisting at 20-30% below comparables from 3 months ago.
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Re:Bank of Canada increases overnight rate target to 1 per cent
by asdf33323 on Wednesday September 06, 2017 @02:13PM
(#15185833)
I call BS unless you provide proof.
Re:Bank of Canada increases overnight rate target to 1 per cent
by megaman2 on Wednesday September 06, 2017 @05:06PM
(#15187143)
Unless I'm reading the reports wrong, according to the Toronto Real Estate Board (TREB) the average price of a detached housed in the "416" (Toronto) area in July 2017 was $1,304,288. In August it was $1,191,052.
So that means a -8.7% change from July to August alone.
Numbers for recent months - Detached houses in "416" area code: August: $1,191,052 July: $1,304,288 June: $1,386,524 May: $1,503,868 April: $1,578,542
http://www.trebhome.com/market_news/release_market_updates/n...
Re:Bank of Canada increases overnight rate target to 1 per cent
by acchow on Wednesday September 06, 2017 @09:31PM
(#15188509)
You are talking average selling prices going down.
We are asking about examples of actual prices of homes going down. They are not the same thing.
The price of homes can actual stay flat or even go up while the average sold price goes down.
Re:Bank of Canada increases overnight rate target to 1 per cent
by megaman2 on Thursday September 07, 2017 @03:02PM
(#15194788)
Yeah, I get that - I was responding to a comment above about the "sales mix" between detached, townhouses, and condos. The data I referenced directly contradicts the assertions made above that the price declines were due to shifts in the "sales mix" between those three types of homes. Sure, you could argue that the prices declines were shifts within the detached housing market, but I haven't seen anyone provide data on that.