There has been a lot of discussion in the media about the Bank of Canada’s recent Financial System Review, particularly the section pertaining to the Toronto condo market. I’d like to confirm that the Bank of Canada is a client of RealNet Canada and our data, as at October 31, 2012, was used in their analysis.
The Bank of Canada plays an important role in lives of all Canadians and we are pleased that their analysis of the New Homes market utilizes our research in fulfilling their mandate.
All of us at RealNet believe strongly that better informed market stakeholders making better decisions contribute to a better market for everyone. This post and all of our efforts are to better inform market participants through the collection and provision of timely market data.
And there is no question that understanding the New Home market is not simple. Perspective matters. Detail matters. Timing matters.
While the media attention generally tends to focus on the condo market, RealNet Canada collects data on a monthly basis for both high rise (apartment, loft, stacked townhouse) and low rise (detached, semi-detached, row townhouse, link) new home projects in the Greater Toronto Area.
Most of the discussion seems to be confused about why our most recent data (as at Oct31) does not match other available, but older, data collected at the end of Q3 2012 (Sep30). I think the reason for the discrepancy is obvious given the different timeframes.
Just so everyone is up to date, a summary of our October data can be found in this November 21st post and our September and Q3 data can be found in this October 25th post. We’re currently busy working on our November data collection which we’ll deliver to clients the week of December 18th to power their market analyses and business decisions.