When the data doesn’t agree with your agenda, there must be something inherently wrong with it. When the data agrees with your agenda, it’s infallible. A wonderful and poignant comment was posted on the GreaterFool.ca blog by my favourite character over there, Smoking Man:
#40Smoking Man on 07.03.13 at 10:21 pm
Gee Wizz garth, Franken numbers ha.
They weren’t Franken numbers last fall when we were in seasonal decline..
Definition of Franken number = when stats go against someone’s wishful bias.
Posted in Greater Fool
A record high price was set in June for single-family homes. The average single-family home price hit $527,162, up 7.7 per cent from last year, and eclipsing May’s record of $521,887.
Inventory was low before the flood. It is now seriously low.
First time buyers were up 37% compared to the 3-year average, and up 8% compared to last year.
The Calgary Herald has reports of homes selling sight-unseen. “We have seen in the past week properties sell, sight unseen, for families that have lost their homes in the flooding…. It is shifting into a sellers’ market where buyers must buy immediately when a property enters the market or risk losing it to competing offers if they wait. The rental market is becoming non-existent so the families must purchase an alternative.”
Read more: Record month in Calgary real estate
Posted in Market update, Month-end
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