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Thread by @rosskay: "Pro Tip: A couple of Canada's real estate boards go back and deflate a previous years sales numbers when the current year is not so rosy. TR […]"

6 tweets, 1 min read
Pro Tip: A couple of Canada's real estate boards go back and deflate a previous years sales numbers when the current year is not so rosy. TREB in 2009 and again in 2010 knocked them down the next year by over 3%.
Explanations are really not complicated or mysterious. Since these were Firm Deals when they were posted and many are commission advanced the next day we know that couple thousand annually certainly closed as Canada has an almost perfect Pending to Closed Ratio.
The answer is less nefarious than some are suggesting. "Sales Processed through the MLS in a month" does not mean sold that month. The next year Boards simply move sales from an earlier month back into the previous month which was already used in yr/yr comparison the previous mth
The problem with most analysts is they don't understand ORE NEVER claims to be counting sales in a month. No board in North America makes such false claims. The Boards leave it to others to believe they are counting sales in a month and stand behind their footnotes.
Around the end of the 3rd week of the following month can a previous months Sales actually be totaled. In Toronto where 9 boards were active in June it takes a little more work and knowledge as well.
BTW REALTORS do not have access to changes so don't blame them because their computer programs do not shift those sales to another month. You have to do it manually or through a batch edit.......and you need to know how to do it because MLS service providers don't themselves.
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