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Canada 6-City Housing & the Plunge-O-Meter

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Posted by Brian Ripley's Canadian Real Estate Charts

on Wednesday, 07 June 2017 06:44

 

​The chart above shows the average detached housing prices for Vancouver*, Calgary, Edmonton, Toronto*, Ottawa* and Montréal* (the six Canadian cities with over a million people each) as well as the average of the sum of VancouverCalgary and Toronto condo (apartment) prices on the left axis. ​On the right axis is the seasonally adjusted annualized rate (SAAR) of MLS® Residential Sales across Canada (one month lag).
 

The Canadian Real Estate PLUNGE-O-METER

chart-plunge-o-meter 5 orig
 
The Plunge-O-Meter tracks the dollar and percentage losses from the peak and projects when prices might find support. On the price chart in the spring of 2005 there was a 4-6 month plateau period while buyers and sellers twitched like a herd. When the credit spreads narrowed and the yield curve began its journey towards inversion, the commodity stampede began.
 
 

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