you interested in buying a home, but want to determine the current
state of the real estate market before beginning your search?
best indicator of housing price trends is current home sales. The
Real Estate Board of Greater Vancouver prepares monthly statistical
reports to help REALTORS® assess market trends and ensure that homebuyers
are getting the best value for their money.
MLS® Home Price Index:
Home Price Index (HPI) is an excellent market resource
to follow trends in housing prices. The theory behind the HPI is
similar to the Consumer Price Index (CPI), where a basket of goods
or housing features of a "typical" home are tracked. The property's
estimated value is based on the combined value of its features,
rather than the property itself. HPI Explained for Buyers provides
an overview of how the HPI works and why it is a more accurate method
of following price trends than traditional averages.
Home Price Index is produced monthly and provides
homebuyers with a clearer picture of housing price trends. REALTORS®
use this chart to help them track price movements of detached, attached
and apartment properties in their community and Greater Vancouver
as a whole.
Listed vs. Sold:
Each month your REALTOR® carefully analyses the most recent comparable
data for homes listed and sold in your neighbourhood to determine
the current trend of housing prices, while taking into consideration
the present state of the BC economy [www.bcstats.gov.bc.ca].
The results are graphed and available in our "Listed
vs Sold" section.
A monthly news release compares changes in property sales and index
prices over the past one-year period. It also highlights areas that
have had the most sales activity. To view these check out the "Monthly