CPI measures annual change in the price of goods consumed. A house is not consumed within anywhere near a year, and also has expenses. The parties in a housing

CPI measures annual change in the price of goods consumed. A house is not consumed within anywhere near a year, and also has expenses. The parties in a housing sale may not be consuming the house at all, but treating it as an investment and renting it out. Stocks, investments, etc. aren’t consumables so they aren’t included either. Rent is the price of housing consumption.