Alternative Methods of Increasing the Precision of Weighted Repeat Sales House Prices Indices

Anthony Pennington-Cross and Michelle Dreiman
Additional contact information
Michelle Dreiman: Office of Federal Housing Enterprise Oversight

No 02-02, FHFA Staff Working Papers from Federal Housing Finance Agency

Abstract: This paper discusses alternative methods of increasing the precision of weighted repeat sales house price indices. Evidence is found that adding the dimensions of price tiers and asymmetry to the variance estimate has merit and does affect the estimated index as well as homeowner equity estimates. Homeowner equity estimates are especially sensitive to these added dimensions because they depend on both the revised index and the estimated variances, which are specific to each dimension considered—time between transaction, asymmetry, and price tier.

Pages: 35 pages
Date: 2002-05
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Citations: View citations in EconPapers (1)

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Related works:
Journal Article: Alternative Methods of Increasing the Precision of Weighted Repeat Sales House Prices Indices (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:hfa:wpaper:02-02

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