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19.07.24
Canadians Trading Homes in June
Canadians negotiating a trade of their home at kitchen tables across the nation in June were trading 4.2% fewer homes each day than they were in June the previous year. In comparison to just a month earlier this year homes were trading 12.6% more rapidly in May.
The importance of using trading day adjusted home trading data could not be better explained after seeing what has been published and made headlines news this week, where a factual decline in trades was expressed as being the opposite or an increase. Home Buyers relying upon stats published by organized real estate were simply mislead in a bad attempt to reverse the negative sales trend instead of telling the truth.
Ontario:
Ontario's 28th month of declining sales continued.
June trades were fewer than May.
British Columbia:
British Columbia's 24th month of declining sales continued.
June trades were fewer than May.
Alberta:
Alberta's 13th month of increasing sales stalled.
June trades were fewer than May.
Quebec:
Quebec's 13th month of increasing sales continued but a smaller rate.
June trades were fewer than May.
In all four of Canada's Biggest Housing Stock Provinces declining sales in June vs May meant a smaller share of homes purchased went to first time buyers causing the Average Purchase Price to rise about what a balanced trading mix creates. In all four of these provinces the result was a higher Average Purchase Price in June than January when first time buyers share of the homes purchased peaked causing the Average to bottom.
In an Apples to Apples same Orchard to same Orchard House Price comparison, House Prices fell in British Columbia and Ontario in June while Quebec and Alberta reported no change vs the month before. Combined House Prices fell in Canada.
The importance of using trading day adjusted home trading data could not be better explained after seeing what has been published and made headlines news this week, where a factual decline in trades was expressed as being the opposite or an increase. Home Buyers relying upon stats published by organized real estate were simply mislead in a bad attempt to reverse the negative sales trend instead of telling the truth.
Ontario:
Ontario's 28th month of declining sales continued.
June trades were fewer than May.
British Columbia:
British Columbia's 24th month of declining sales continued.
June trades were fewer than May.
Alberta:
Alberta's 13th month of increasing sales stalled.
June trades were fewer than May.
Quebec:
Quebec's 13th month of increasing sales continued but a smaller rate.
June trades were fewer than May.
In all four of Canada's Biggest Housing Stock Provinces declining sales in June vs May meant a smaller share of homes purchased went to first time buyers causing the Average Purchase Price to rise about what a balanced trading mix creates. In all four of these provinces the result was a higher Average Purchase Price in June than January when first time buyers share of the homes purchased peaked causing the Average to bottom.
In an Apples to Apples same Orchard to same Orchard House Price comparison, House Prices fell in British Columbia and Ontario in June while Quebec and Alberta reported no change vs the month before. Combined House Prices fell in Canada.