Home prices in all 20 cities in the S&P/Case-Shiller home price index increased in the month of May. Combined, the index rose 2.2% from April. Year-over-year, 12 of the 20 cities have higher prices, though combined the index is down .7%. Le...
ading the way is Phoenix, up 11.5% from last year, while the largest decrease is in Atlanta where prices are down 14.5% from last May.
The Case-Shiller Indexes use the repeat sales method for index calculation, analyzing data on single-family properties that have two or more recorded sales transactions. Changes in housing types and sizes, or changes in the physical characteristics, of houses are specifically excluded from the calculations to avoid incorrectly affecting the index value. Home sales pairs are accumulated in rolling three-month periods to offset any delays in sales data recording and to keep sample sizes large enough to create accurate price change averages.
The Case-Shiller Indexes use the repeat sales method for index calculation, analyzing data on single-family properties that have two or more recorded sales transactions. Changes in housing types and sizes, or changes in the physical characteristics, of houses are specifically excluded from the calculations to avoid incorrectly affecting the index value. Home sales pairs are accumulated in rolling three-month periods to offset any delays in sales data recording and to keep sample sizes large enough to create accurate price change averages.
