Sunday, August 10, 2008

Klump on Calgary


I made a chart showing Calgary housing prices and quotes from Greogry Klump, cheif economist for the Canadian Real Estate Association. Prices are from Mike's Site and I did include August which so far only has 9 days worth of data.

The arrow points to the time period between months. This is because the data points are entire month averages and generally the comments are referring to previous month's data.

The two quotes are found in the ealier post.

7 comments:

Anonymous said...

great post bearclaw..i posted it on greaterfool.ca
great graph..realy realy good

squid

Anonymous said...

hey bear..your national now
bubblicide

batten down the hatches
keep your hands outta your pockets
when you think that prices are to good too be true and you should buy now..resist and wait
its all going off a cliff now

cache some old mls pages to remind yourself how stupid this all was


i told people this day would come
its now !

Aaron said...

Those averages hide a lot of details. Look at the CREB data. This is a sign that the high-end homes and condos are not selling. However, house prices at the bottom of the distribution (300k range) are still experiencing growth. So this is not really any meaningful news for the first time buyer . . . at least not yet.

BearClaw said...

aaron,

Thats why I included the median as well. Million dollar sales are down this month compared to last year, but YTD million dollar sales are up in % terms. Sales price per square foot has fallen.

You also have to consider that maybe more lower priced homes are selling because prices have fallen. Lower price may not mean lower quality.

I have not been following individual properties in Calgary, but in Edmonton I can say that the price drops have been substantial.

BearClaw said...

Thanks squid,

See these charts as well for Edmonton. Maybe they need updating.

squidly77 said...

failed lottery

BearClaw said...

15 applicants of which 4 are duplicates. Wow.