I've followed Standard and Poor's Case-Shiller index in the US for some time now, but never really knew there was a similar style index developed in Canada until recently. The "House Price Index" was developed by Teranet in conjunction with the National Bank of Canada.
The idea is that the traditional 'average sale price' measurement can be skewed by markets such as Vancouver/Victoria and Toronto where values are substantially higher than the rest of Canada. Interesting to see how high and early (2007) Calgary peaked.