Tuesday, December 30, 2008
The Case-Shiller index, most recent update
This shows the Case-Shiller indices for several cities. The black line shows the Ten City composite. The other color coded lines show the index for some of our major cities.
These Case-Shiller indices are nominal. That is, they are not corrected for inflation. They are all normalized to 100 at January 2000. Thus the Case-Shiller indices do not show house prices per se but rather house price appreciation relative to this fiducial date.
One can see for example, that the average house in Miami appreciated by a factor of 2.8 from Jan 2000 to its peak at January 2007. That is a total house price appreciation of 180% or 15% per year for 7 years. Quite astounding!
Please feel free to borrow these figures. Just be sure to reference the website.
Posted by David at 10:16 PM