The MLS Home Price Index (HPI) is designed to act like the more familiar Consumer Price Index (CPI). While the CPI tracks the price of a basket of goods, the HPI tracks the price of a basket of house attributes. For a more detailed look into how the HPI works, check out this blog post. It's been a long time since I've posted the HPI charts, but with 2018 just ending I thought it would be a good time to share a look-in. Note, I zero-in on just the 416. Different parts of the... [read more]

Carrying on the narrative from last month, and the last several really, condos are still having a rough go of things, and freeholds are not. You'll find the full set of market charts (only excerpts are highlighted below) here on my website. Let's get at November... Freeholds are all caught up - and then some After the big 416 freehold sales hole from April (-65% YoY) and May (-62%) and even June (-12%), I would never have thought we'd be able to... [read more]

Back in March I wrote a blog post looking at the price gap between detached houses and condo apartments in the 416, noting it had come well off of the spring 2017 highs and was back to 2015 levels (on an absolute dollars basis) or 2013 levels (on a ratio basis). At that time I wrote: It may be a good time for move-up buyer to swing from a condo to a house as the price gap is back to 2015 levels. Then again, there may be more gap shrinking to come. I don't have a crystal ball,... [read more]

In the blog last month, it was a continuation of the narrative for several months whereby freeholds were going strong and condos were kind of hurting, especially in the downtown core. And then December happened. As always, you'll find the full set of market charts (only excerpts are highlighted below) here on my website. Let's get at December... About-face for condo sales For the first 6 months of the year, whether starting the year the year off hot in... [read more]

[Note: the analysis from this blog post was referenced in a Globe & Mail article in March of 2018.] The calendar just turned from February to March. That means February real estate statistics will be released next week. And that means we're going to be seeing harsh year-over-year (YoY) price comparisons for the next few months. If you want a fun drinking game, have a shot every time you hear or read the media use any variation on the word "plunge" related to... [read more]