In recent years, housing indicators have become significant in understanding the evolution of the real estate market. As there is a significant impact of the housing price indexes on the public awareness of the current state of a real estate reliability of such indices is important. This paper examines the housing price index from a methodological point of view, with a focus on Central and Eastern Europe. Results suggests that the majority of the real estate markets in this region is relatively new in adopting a real estate index, compared with Western Europe or US markets. Thus, the anchoring upon similar models developed in these markets needs to be done with a focus on regional characteristics.