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When Canadian real estate stats come out, CREA, Canadian Real Estate Association, they say вЂoh, the average price of a home in Canada is up 5% or down 5%,вЂ™ вЂ“ In my head I always think thatвЂ™s about as relevant as what is the average temperature in Canada right now.ДЇor example, selling activity in Toronto could be very different than in Windsor or Sault Ste. We divide 300 active listings by 100 sales in the month, which gives us 3 months.ДЄnd what people say is: a balanced market, so it doesnвЂ™t favour the seller or the buyer, is somewhere in the four to six range.ДЄccording to Scott, itвЂ™s also important to realize that real estate is a very local industry. For example, if there were 300 active homes on the market at the end of April and there were 100 sales during April, it would take 3 months for all those homes on the market to sell, assuming there are no new listings.

MOI is the measure of how many months it would take for a current inventory of homes on the market to sell. Scott also says looking at the months of inventory (MOI) statistic is key. I think itвЂ™s important to pull back and look with a longer term context with some of the things. To me, you should be paying attention to all the numbers. For example, when he wrote about January 2018 stats, he displayed listing activity going back to 2012. ThatвЂ™s why on his blog, he provides readers with charts of data spanning 7 years. When it comes to understanding the current housing market in Ontario, and more specifically, Toronto, where he specializes, Scott thinks we benefit from focusing on context. But what really sets him apart is that he likes to empower his buyers by educating them.

House flipper game buyers professional#

HeвЂ™s also a Chartered Professional Accountant.

On todayвЂ™s show, recorded on Februand released on Ma(so if you are listening in the future, the statistics will have changed) weвЂ™re chatting with Scott Ingram. WeвЂ™ve had many experts like Hilliard Macbeth, Ben Rabidoux, and Alex Avery provide their insight on whether renting is better than buying and vice versa.Д«ut, weвЂ™ve never had the most obvious guest to talk real estate: an actual realtor.

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Talking real estate isnвЂ™t a first for the Debt Free in 30 podcast.