|





Everyone, media, home owners, Realtors etc. are fascinated with the average price of housing. With 80% of sales within a $200,000 price change it only takes a couple of million dollar properties to skew the average into an unrealistic number.
I like using the Housing Price Index (HPI) as an indication of the market for tow reasons: first, its gives a truer indication of real estate price levels of both the long and short period; second, when doing a market evaluation of a "typical" home I can look at the change in the index between the date a client purchased their house and the date of the evaluation and extrapolate a current price.
The HPI of the three housing categories follow.
The Housing Price Index (HPI), for all detached homes and apartment condos have recovered to within 3 per cent lower than in spring 2008. HPI for all three categories for January 2010 was $446,671 compared to $460,682 in May 2008.

HPI of Fraser Valley Detached Homes increased by 10.8 per cent going from $452,145 in January 2009 to $500,931 in January 2010.

HPI of Fraser Valley Townhouses increased by 7.6 percent going from $295,339 in January 2009 to $317,719 in January 2010.

HPI of Fraser Valley Apartments increased by 10.4 per cent going from $220,595 in January 2009 to $243,470 in January 2010.
The Housing Price Index (HPI) is a tool developed by the Greater Vancouver and Fraser Valley Real Estate Boards to measure residential market activity. It tracks and measures the movement of mid-range priced homes for a set time period and provides reliable information on housing price trends since it excludes extremely high and low priced properties.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2012 ActiveRain Corp. All Rights Reserved