The NHPI numbers do support a cooling as far as they go. The January annual inflation rate of 3.6% compares with a December rate of 4.2%. That's a massive decline in one month. The January monthly change was a decline of 0.1%. Nothing seems to work in this country anymore with Justin Trudeau at the controls. The StatCan database is still down, so I couldn't delve further into the NHPI numbers, but for January the Teranet National Bank HPI for Vancouver shows a seemingly impressive 16.4% annual increase, but down from 17.0% in December. The three-month rate of change from October 2016 to January 2017 is a drop of 1.9%. The Teranet HPI for Vancouver peaked in September 2016, and in February 2017 was 1.1% below that peak level. So there has been a slump in house prices.