National Housing Price Index Launching in 2012

Five of Canada’s largest real estate boards – Calgary, Fraser Valley, Montreal, Toronto and Vancouver – together with the Canadian Real Estate Association (CREA) are developing a national housing price index (HPI) which will be ready for launch at the end of January 2012.

Housing price indices have been widely recognized as providing the most accurate indication of housing price trends in these markets. It takes housing quality into account, such as housing category, location, number of rooms, living area, etc., in a way that no other method of price tracking does.

An HPI:

  • Is the best measure for home prices
  • Improves measurement accuracy of pure home price change by combining the advantages of Hedonic & Repeat Sales methodologies
  • Can track home prices by sub-market (housing sub-category and/or sub-area)
  • Is based on data from the Multiple Listing Service® (MLS®), which is widely-recognized as the most comprehensive and accurate real estate data in the country
This will definitely be a great additional research tool for those who closely follow the market! 🙂

One response to “National Housing Price Index Launching in 2012

  1. Pingback: MLS® Housing Price Index (HPI) Launching February 2012 | Calgary Real Estate Review

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