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QUESTION: How is housing different in Canada than the US?

 

The housing stock is different in Canada. Home ownership rates are lower, while renting an apartment/condo is more common.

 

ERI gathers Estimated Home Prices using the same methodology and stringent refinement techniques in Canada as in the US.  Typically, we gather home sales data for the following housing types:  

 

•Detached Bungalow (111 sq. meters).

•Standard Two-Story (139 sq meters).

•Executive Detached Two-Story (604 sq. meters).

 

The apartment rental data is collected for both Standard Condominium Apartments and Luxury Condominium Apartments.

 

Outside of the major residential areas, it is common to have fewer than 30 home sales per quarter.  We use small area estimating techniques to model estimates of costs for locations with an inadequate number of home sales/apartment rentals.

 

See Two City Comparison - Background for more information.