New York, NY 10041
The S&P/Case-Shiller Home Price Index tracks repeat-sales prices of single-family homes in 20 cities in the United States, based on a methodology designed by economists Karl Case, Robert Shiller, and Allan Weiss. Ratings agency Standard and Poors calculated the index monthly. The index is traded against on the Chicago Mercantile Exchange. There are other Case-Shiller indices, though when people use the term, they usually mean the 20-city index. The index is considered a monthly snapshot of the national housing markets strength or weakness. Its usefulness in New York City is limited, however, as it does not include condominium or cooperative sales prices, only single-family homes.