The home price story in Edmonton gets even more interesting when you look at it graphically. First, average price per year (note: the average price for '07 is calculated using only January's average sale price).
As you can see things appear to just be chugging along. Kind of makes you wonder about the economist quoted in our previous post. Next, average price per month:
In this graph I have plotted January's average price twice - once as an extension of '05, so you can see the price increase related to '05, and once on it's own as the start of this year's plot line. Obviously we're looking at the biggest year over year increase in over 15 years (possible ever) which is the first sign of a potential bubble. All other indicators do not suggest a bubble - this will be discussed, along with more charts tomorrow and later this week...forgot to bring my laptop power supply home and my battery is about to die, so I'll have to log off for tonight.
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