Surrey BC Real Estate Metrics - Average Price vs HPI #shorts

Average Price, Median Price and Home Price Index (HPI), all provide a different picture of what is happening in the real estate market. In July 2023, the average detached home price in Surrey shows a shocking drop of -$100,000, but is that an accurate picture? Have real estate prices really plummeted within only 30 days?

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The opinions expressed herein are solely that of Steve Karrasch PREC and not Macdonald Realty or the FVREB and should not be misconstrued as advice or the basis of an agency relationship whatsoever. Please consult your professional advisor prior to taking action on any decisions relating to the matters discussed in these videos. This communication is not intended to cause or induce breach of an existing agency agreement.