If you compare the 12-month running average to what it was a month earlier you’d think prices were going down, but we have to look at the more recent average to see what’s actually happening. If you look at the monthly average price chart above and the 4-month running average its clear prices have been increasing recently.
Does this recent 4-month 2.4% increase now indicate home prices will continue increasing? This chart does show a trend over the last few months and it’s a more positive sign than the rollercoaster averages each month during the last half of 2017 and the last 36 month shown below.
The 12-month running price average is lower again this month but the margin is decreasing and is now only 0.5% lower. Considering the average each month is getting closer to what they were 12 months ago we might see the 12-month running average positive in 30 days.
Let’s see what next month brings…
I will post and talk about average price details each month to track which direction the market’s heading.
Check back each month to see how your market trends. Know your market!
If you’d like average pricing using a specific location please email Blake King at hello@BlakeKing.ca anytime or call (403) 350-7672.