Quote:
Originally Posted by Claeren
Also the way they calculate average price increases hides a drop in housing prices for at least a year. They take the price you pay at purchase but only count it at possession. So if you bought a house 15v months ago at the height of the boom, THAT is the price they are using TODAY in the average price. That is the ONLY reason prices went up this year - because they are actually last years prices.
Claeren.
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That only applies to NEW housing. When they calculate average home prices in Calgary they are calculating for new homes and resale homes.
The absorbed price has nothing to do with resale values.