Shortly after this, RET wiped the info clean.
Vancouver’s real estate board is the home of the original Frankenumber, the MLSLink® Housing Price Index (HPI) composite benchmark price, blatantly intended to smooth out peaks and valleys, giving the impression of an eternally stable market.
Instead it’s there to mask those swings, obfuscate reality and create an ‘it’s-always-a-good-time-to-buy’ mentality.
In the meantime, are the real estate boards on a witch hunt to find out who released the information?
More importantly, why restrict the data? What motivates the Real Estate boards to keep this from you?
The HPI is to houses what moving averages are to stocks. Instead of telling you what properties sell for now, it tells you what they averaged over time. Realtors love this since it filters out peaks and valleys, making markets seem serene and predictable. But the HPI is as useless to a serious buyer as a four-month-old stock quote is to a trader.
If kept in perspective Median Prices can be useful information to anyone considering the sale or purchase of a Vancouver property. As is normal practice I bring to my clients all statistical information possible when discussing the sale or purchase of their home. It is also my normal practice that if such graphical information is not readily available as a service from my board I will based on their data, build it. Such is the case with this Median graph. Additionally, in the past while commentators have expressed an interest in having a Median Price graph for Vancouver properties. It seemed appropriate to share this with them. I hope it will serve all well in your Vancouver home selling or purchase deliberation.
Does your real estate salesperson offer this service? If not, you might wish to consider giving me a call when life moves you.
Caution: In the graph below you will find a Median Price graph that includes Vancouver West, Vancouver East, West Vancouver and North Vancouver – the four communities within my service area. Remember that the Median Price is merely another statistical tool to help you make a Vancouver home buying or selling decision. It is a starting point.
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