"Organized real estate is unable, it seems, to admit the glory days may be behind it."
The latest outrageous twisting of statistics, the Post said, comes from the Toronto Real Estate Board.
This month’s gem comes from the Toronto Real Estate Board: It complained September didn’t have enough working days — too many weekends.
I always thought people bought homes on weekends, but it seems the transactions are registered during the week.
“The number of transactions was down 21% in comparison to September 2011,” said TREB in a release. “However, it is important to note that there were two fewer working days in September 2012.”
This logic has produced a new measure from TREB: Sales were down only 12.5% — not the actual 21% — from a year ago on a “working-day basis.”
Vancouver’s real estate board likes to tout what it calls the MLS HPI (home price index) composite benchmark price for all residential properties. It was down 0.8% to $606,100 in September from a year ago and off 2.3% over the past three months.
Doesn’t sound too bad.
But when you pull out actual sales data, you find year-over-year prices in August in Canada’s most expensive housing market were off 6.9%. For the first two-thirds of the year, prices fell 7.3%.
The decline is happening; it’s the severity that seems to be under dispute.
But is that obsession now extending to silencing blogs in an attempt to keep price changes and declines under wraps?
The question is being asked in the wake of the disappearance of a Vancouver area blog that charted MLS price changes.
The website address of the blog in question is http://re.olvius.com
Up until last week this is the home page you would get when you went to that site (click on image to enlarge):
(Note: while this site has gone off-line, there have not been any updates to the site since August 2012).
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