Prices of Single Family Homes Since 1970: New Indexes for Four Cities

Karl Case and Robert Shiller

No 851, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: This paper uses data on nearly a million homes sold in four metropolitan areas -- Atlanta, Chicago, Dallas and San Francisco -- to construct quarterly indexes of existing home prices between 1970 and 1986. We propose and apply a new method of constructing such indexes which we call the method of constructing such indexes which we call the weighted repeat sales method (WRS). We believe the results give an accurate picture of the actual rate of appreciation in home prices in the four cities. The paper explains the construction of the index, discusses the results and compares them with the National Association of Realtors data on the median price of existing single family homes for the period 1981-1986.

Keywords: Noncooperative games; agreements; repeated games (search for similar items in EconPapers)
Pages: 53 pages
Date: 1987-04
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Citations: View citations in EconPapers (271)

Published in New England Economic Review, Federal Reserve Bank of Boston, issue Sep., pp. 45-56

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Journal Article: Prices of single-family homes since 1970: new indexes for four cities (1987)
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