Case-Shiller Home Price Index
The Case-Shiller Home Price Index is a measure of the value of residential real estate in the United States. It is based on the sale prices of single-family homes in 20 major metropolitan areas across the country. The index is published monthly by Standard & Poor’s and is widely used by economists, real estate professionals, and investors to track changes in home prices over time. The index is also used to measure the health of the housing market and to gauge the overall strength of the economy.
History of the Case-Shiller Home Price Index
The Case-Shiller Home Price Index was developed in the late 1980s by economists Karl Case and Robert Shiller. The index was designed to measure changes in home prices over time and to provide a more accurate measure of home values than traditional methods. The index is based on a three-month moving average of home prices in 20 major metropolitan areas. The index is updated monthly and is widely used by economists, real estate professionals, and investors to track changes in home prices over time.
Comparison of Home Prices in Major Metropolitan Areas
| Metropolitan Area | Home Price Index (January 2021) |
|---|---|
| New York | 253.2 |
| Los Angeles | 323.7 |
| Chicago | 179.2 |
| Dallas | 179.3 |
| San Francisco | 433.2 |
Summary
The Case-Shiller Home Price Index is a measure of the value of residential real estate in the United States. It is based on the sale prices of single-family homes in 20 major metropolitan areas across the country. The index is published monthly by Standard & Poor’s and is widely used by economists, real estate professionals, and investors to track changes in home prices over time. For more information about the Case-Shiller Home Price Index, visit the Standard & Poor’s website or the Federal Reserve Bank of St. Louis website.
See Also
- Real Estate Market Index
- Housing Affordability Index
- Mortgage Rate Index
- Consumer Price Index
- Gross Domestic Product
- Employment Cost Index
- Producer Price Index
- Consumer Confidence Index
- Housing Starts Index
- Building Permits Index
