According to a newsletter sent out today, the index will now be published a full month sooner, no more than 30 days after the transaction month.
This is big news for all the urban geeks out there (us included, obviously). We’re pretty thrilled that we won’t be hearing about February’s home price activity at the end of April. As great as the stats are, timeliness is still a significant factor. This is obviously a big improvement.
“This is another improvement in the Canadian benchmark house price index. It will help market participants make more informed financial decisions. Further index development can be expected, providing yet more value added information on the Canadian housing market.” said Simon Côté, Managing Director – Risk Management Solutions at National Bank in the newsletter.
The change will mean that the May 30th index publication will include data from the months of March and April 2012. Exciting stuff indeed!