MLS® Home Price Index (HPI)
What is the MLS® HPI?
The MLS® Home Price Index (or MLS® HPI for short) allows your REALTOR® to see trends in home prices for a specific type of house in a given neighbourhood. Combined with their knowledge, experience and skills, the MLS® HPI allows your REALTOR® to better understand these market trends — and how they can affect the market value of your home. More importantly, though, it helps you approach one of life’s most important decisions — buying or selling a home — with greater confidence.
How does the MLS® HPI work?
The MLS® HPI can help your REALTOR® gauge changes in housing prices over time, including changes in:
- Overall home prices for the market as a whole
- Prices for specific housing categories in a given area or for the overall market
- This information will help your REALTOR® easily determine the market value of a home.