National Real Estate Prices...Should You Care?
An interesting conversation about Real Estate prices is unfolding on Twitter. Specifically relating to national house prices.
My thoughts?
Irrelevant for anyone buying or selling a home locally.
If you are buying Real Estate in Vancouver do you really care what the house prices in Peggy's Cove, Montreal, Windsor, Moosejaw, Edmonton, Yellowknife etc are doing?
They are just not relevant.
Yet all these places and every other home sold in every location in Canada are part of the reported number or trend in national housing prices.
I do feel that the national Real Estate data and analysis is very useful for those to measure the overall health of the Canadian economy as Real Estate is significant indicator of our economy's well being and trends.
Bottom line...be careful what numbers you are using when trying to determine the Real Estate trends in you neighbourhood or city.