The MLS® Home Price Index (HPI) comprises a set of software tools configured to provide time-related indices on residential markets within territories of participating real estate boards in Canada.
The MLS® HPI is the best and purest way of determining price trends in the housing market. It was pioneered by six founding partners: the real estate boards of Calgary, Fraser Valley, Greater Montreal, Greater Vancouver, and Greater Toronto and the Canadian Real Estate Association. In 2009, the partners contracted with Altus Group to develop the MLS® HPI, which subsequently launched in February 2012.
Since its founding, CREA’s Home Price Index has grown to include data from Regina, Saskatoon, Ottawa, Vancouver Island, Victoria and Greater Moncton. The 11 real estate boards participating in the MLS® HPI represent 51.9% of all Canadian resale housing activity, based on the 10-year average of annual sales from 2004-2013.
For more information about the MLS® HPI, please contact any of the founding partners.