Quote:
Originally Posted by CaptainYooh
One of the most useless stats, actually. It's not worth the effort that goes in collecting the data to arrive at this average. Even provincial averages are not very useful or indicative of anything other than year-over-year trending patterns. Only municipality-specific stats are relevant and important. Buying a $1M low-end house in Toronto/Vancouver, where the demand vastly outstripped supply is very different from buying a house in rural Manitoba/Saskatchewan where you could buy a house for a paper clip and a promise to not leave. Here's your $500,000 average.
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I don't disagree. It's far from perfect data, but the trend is more important. Yes, you are correct that it doesn't provide any detail on where the price increases are occurring.