House Price Growth Index™ - Canada
The Wealthy Homeowner™ contracted Ross Kay Realty Consultants to publish the most easily understood, reliable and consistent daily reading of change to the purchase prices being paid for homes that day. The RKRC House Price Growth Index™ measures how the homes that were purchased today will impact the average annual purchase price against the historical daily norm.
The RKRC House Price Growth Index™ is also a valuable tool in reading the compositional mix of sales taking place across all stages of homeownership by exposing what impact ongoing changes to the mix are having on average price.
A reading of 100 is measuring a historically "balanced" mix of sales across all Stages of Homeownership. In a "Balanced" market for every 1000 homes purchased, they will cause the Annual Average Purchase Price to rise $28.10. A reading above 100 means purchase prices are rising at a rate above historical norms and the compositional mix is shifting away from Formation Stage purchases. A reading below 100 means prices are rising at a rate below historical norms and the Stages mix is shifting towards Formation purchases.
A negative reading (minus) means the average purchase price is falling.
A positive reading (plus) means the average purchase is rising.
The RKRC House Price Growth Index™ is the most reliable way of understanding how home prices are changing at or above or below historical norms. It is a coincident measure of change, meaning that its daily reading is measuring the price home buyers paid during the previous day.
Record High HPGI-CDN was set in February 2016 when the monthly aggregate reading measured 477.76
Pre-2016 Record High HPGI-CDN was set in February 1989 when the monthly aggregate reading measured 352.46
Record Low HPGI-CDN was set in December 2008 when the monthly aggregate reading measured -330.46