TORONTO, February 3, 2012 -- On Monday February 6th, 2012, The Toronto Real Estate Board (TREB), in conjunction with the Canadian Real Estate Association (CREA), Fraser Valley Real Estate Board (FVREB), Greater Vancouver Real Estate Board (GVREB) Calgary Real Estate Board (CREB) and the Greater Montreal Real Estate Board (GMREB) will launch a new system to measure home prices and home price growth: the MLS® Home Price Index (MLS® HPI).
The MLS® HPI provides a less volatile measure of home prices and home price change compared to traditional average and median measures, which can swing dramatically in response to changes in the share of very expensive or inexpensive home sales from one time period to the next.
Detailed information on the new MLS® HPI will be provided at a Media Technical Briefing Conference on Monday, February 6th, at 12 noon Eastern.
This briefing will begin with a short presentation on the MLS® HPI, provide details on methodology and conclude with a Question and Answer session.
PLEASE NOTE: You must email Pierre Leduc at CREA (email@example.com) BEFORE the conference in order to receive an invitation and a web link to participate in the conference.
On Monday, February 6th, the official launch date, TREB will also issue a news release providing MLS® HPI information specific to the TREB market area as well as to announce the official launch of the MLS® HPI website www.homepriceindex.ca.