Our MLS® Home Price Index (HPI) provides benchmark prices for communities across the region that allow you to follow and compare accurate and up-to-date home price changes over time.

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MLS® Home Price Index 2022 update

The national MLS® Home Price Index (MLS® HPI) methodology was updated during an annual review of the model in May. In line with best statistical practices, the MLS® HPI is reviewed each year.

Under the new methodology, benchmark attribute data is derived from data collected from the previous five-year rolling period. Benchmark prices are also now based on current benchmark attributes instead of linking benchmark prices to historical benchmark attributes.

In the annual review, coverage was extended to neighbourhoods where sales volumes picked up enough to support benchmark price tracking and discontinued for neighbourhoods where sales became too sparse to support benchmark price calculations. Read more about these changes.

Due to new housing development, REBGV also expanded the boundaries of the Brentwood neighbourhood in Burnaby, which affected the typical home associated with that area, Central Burnaby, and Parkcrest.

To ensure the MLS® HPI coverage is consistent and comparable, the MLS® HPI historical aggregate and composite data was recalculated based on revised and consistent coverage.

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