New Condominium Apartment Price Index (NCAPI)

Relative importance in the new condominium apartment price index of geographic area, number

Relative importance in the new condominium apartment price index refers to how important a census metropolitan area is in the calculation of the nine census metropolitan area composite index. The relative importance is calculated by dividing the weight of each of the nine Census Metropolitan Areas (CMA) by the sum of the weights of those nine CMAs. The weights correspond to a three-year average of the value of sales of new properties from the Canada Mortgage and Housing Corporation's Market Absorption Survey.

Geographic area refers to areas whose boundaries are specifically delimited in accordance with well-defined concepts and which, in total, cover the entire landmass of Canada. It excludes Canadian territorial enclaves abroad.

The data for this variable are reported using the following measurements:

• Decimal number