This is just a quick reference and post to some news and data as it becomes available.
From BCREA – Canadian Housing Starts (March 2023) – April 19, 2023
Interesting to note BCREA used seasonally adjusted stats here but not in the recent Housing Market Update April 2023 I’m not sure why they would not at least include that information when the CREA provides it other than the seasonally adjusted as of March 2023 shows a continued decline. There are some other differences between the data reported. Like average versus benchmark pricing which is generally considered to be more relevant. Not that average vs. median vs. benchmark values don’t each have their own relevance. But the average price tends to include more weight from the outliers on the higher price. The lower end of the price generally has a floor so the median is typically lower than the average in this type of market. The average price is often more volatile than median and benchmark so I guess maybe that’s a little more “news worthy”. I get it talking about stats some folks find it dull so any chance to ad some pzazz.! Maybe they have other reasons, I’m just an armchair Quarterback.
