What is the Case-Shiller Index?
S&P/Case-Shiller Home Price Indices began as a research project in the 1980’s when Karl E. Case and Robert J. Shiller began to construct a methodology to measure housing price movement. They developed the repeat sales pricing technique which measures the movement in price of single-family homes in certain regions. When a specific home is resold, months or years later, the new sale price is matched to the home’s first sale price. The indices are designed to be a reliable and consistent benchmark of housing prices in the United States. Their purpose is to measure the average change in single-family home prices in a particular geographic market. (SOURCE)
Unfortunately, such an index does not exist here in Canada. From time-to-time, I will publish the previous days sales with any sold history for those that are interested.
Today’s data is from condominiums sold in metro-Calgary on September 10th 2008 (21 properties total)
Note: Technically, the Case-Shiller Index does not include condominiums or new construction.
Property 1
No previous sales on MLS
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Property 2
No previous sales on MLS
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Property 3
No previous sales on MLS
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Property 4
September 2008 sold: $211,500
April 2006 sold: $185,000
March 2004 sold: $126,000
October 2002 sold: $119,000
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Property 5
September 2008 sold: $224,250
November 1999 sold: $107,350
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Property 6
September 2008 sold: $222,000
May 1998 sold: $108,000
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Property 7
No previous sales on MLS
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Property 8
September 2008 sold: $233,750
September 2002 sold: $132,500
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Property 9
No previous sales on MLS
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Property 10
September 2008 sold: $236,000
July 2005 sold: $150,000
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Property 11
September 2008 sold: $247,000
February 2003 sold: $138,000
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Property 12
September 2008 sold: $249,000
July 2005 sold: $153,900
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Property 13
No previous sales on MLS
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Property 14
No previous sales on MLS
-
Property 15
No previous sales on MLS
-
Property 16
September 2008 sold: $299,900
May 2003 sold: $196,000
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Property 17
No previous sales on MLS
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Property 18
September 2008 sold: $345,000
November 2003 sold: $203,000
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Property 19
No previous sales on MLS
-
Property 20
No previous sales on MLS
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Property 21
September 2008 sold: $510,000
August 2007 sold: $545,000
April 2005 sold: $438,000
February 2002 sold: $196,500
Let me know if you find this type of information useful or interesting, and I’ll try to post Case-Shiller type information more often.
Case-Shiller info is great. Thanks for all this work!
IAS360 House Price Index Rises Again, Up 0.9% in July
DENVER, CO, September 9, 2008 — On Tuesday, September 9 Integrated Asset Services, LLC (IAS, http://www.iasreo.com/ias360update.html), a leader in default management and residential collateral valuation, released its IAS360 House Price Index for July 2008. The monthly report, which includes the most current and granular data available in the industry, showed a 0.9% appreciation in house prices on a national level in July, and a -11.4% decline from July 2007 to July 2008.
The IAS360 House Price Index is a comprehensive housing index tracking monthly change in the median sales price of detached single-family residences across the U.S. The index, based on all arms-length transactions, tracks data at a “neighborhood” level, which is then rolled up to report on the changes in 360 counties, nine census divisions, four regions, and the nation overall. The IAS360 House Price Index is delivered on a monthly basis.
“The IAS360 HPI is unique in that it’s not a seasonally adjusted or smoothed index,” says Dave McCarthy, President and CEO of Integrated Asset Services. “This combined with its timeliness and granularity give lenders, investors and consumers a peek at the raw changes in home price forecasts from the front lines.”
At the broader census region level, results for July show three out of four U.S. census regions experiencing gains in house prices, with only the West region continuing to show a decline. On a year-over-year basis, however, all four census regions are still posting losses, the most notable being the West, the only region with a double-digit decline.
Results for the month of July at the Census Division level showed six out of nine U.S. census divisions posting gains during July, but only two—East North Central, which posted the largest jump in July, and West South Central, which posted the largest decline—have appreciated year over year.
IAS also provides “neighborhood” level house price trends through its iMVI product. More information on iMVI can be found on the IAS website, http://www.iasreo.com/cs.html.
*Due to the timeliness of the data, the IAS360 House Price Index is subject to revisions on a monthly basis.
About Integrated Asset Services, LLC.
IAS (www.iasreo.com) is a privately-held Colorado-based corporation specializing in default mortgage services including valuation, reconciliation and full cycle REO disposition. The Company’s advanced valuation and volatility technology combined with its expert professional services help its clients reduce exposure while expediting the entire asset management process. Founded by REO industry experts, IAS provides services that go beyond industry expectations; from the level of integrity of its employees to the measurably better service it routinely provides.
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