- HPI is a measurement of average price changes for residential houses in a given municipality.
- The figure is determined by analyzing repeat mortgage transactions on single-family homes.
- HPI is the best way to determine price trends in the housing market of a given region.
The House Price Index (HPI) in Canada
The House Price Index is maintained by the Canadian Real Estate Association who gathers its information from participating real estate professionals which is averaged out by region.
In February of 2012 the Canadian Real Estate Association, along with partners from real estate boards in six key regions, launched a new website called Home Price Index. The website includes an HPI tool for home buyers and home sellers allowing them to view pricing trends in various ways. For example, you can view home pricing trends by timeframe and property type and compare against the participating regions. Also available are House (Home) Pricing Index bar charts and line charts.
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