Up to the minute real estate information:
WASHINGTON (MarketWatch) - The decline in U.S. home prices picked up speed in March, with prices down a record 14.4% in the past year for 20 key cities, according to the Case-Shiller home price index released Tuesday by Standard & Poor's.
WHAT IS THE CASE-SHILLER INDEX? Thought you might ask!
The Standard & Poor's/Case-Shiller Home Price Indices measure the nominal value of the residential real estate market in 20 metropolitan regions in the United States. The indices use repeat sales pricing technique to evaluate the housing markets. The approach, developed by Karl Case, Robert Shiller, and Allan Weiss (obviously Weiss' name was left off of the index title) uses data on single-family home re-sales, and re-sold sale prices to form sale pairs. This index family includes 20 regional indices and two composite indices as aggregates of the regions.
The indices are calculated monthly and published with a two month lag on the last Tuesday of every month.
The S&P/Case-Shiller U.S. National Home Price Index is a composite of single-family home price indices for the nine U.S. Census divisions, calculated quarterly.
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