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S&P/Case-Shiller Home Price Indices (S&P/CSIs) are currently available for the overall United States housing market (a market capitalization-weighted composite of 9 underlying Census Division indices), 20 individual metropolitan markets, and two market capitalization-weighted composite metro-area indices. The composite index weights reflect the aggregate value of single family housing stock in each of the underlying regions or metropolitan areas. The composition of the U.S. metropolitan area captured by each of the S&P/CSIs is largely based upon the most recent definitions established by the Office of Management and Budget in 2003. With the exceptions of Chicago (as composed for the S&P/Case-Shiller Home Price Index, akin to the OMB Chicago "Metropolitan Division") and New York (as composed for the S&P/Case-Shiller New York Home Price Index, a variant of the OMB New York "Combined Statistical Area"), these markets are generally consistent with what OMB refers to as the "Metropolitan Statistical Area" (MSA) of each city listed. The individual counties that are represented within each of the metropolitan area indices appear within the tables below. Note that while the S&P/CSIs are intended to be representative of all single family residential homes within the named metropolitan area or region, data for particular properties or component markets may be not always be available. Also, the historical price paths of individual properties or component markets are not necessarily consistent with their metropolitan area "parents", and the representation of component markets is dependent upon sales activity and data availability. Separately, it is possible that OMB will change their market area definitions in the future; in the event such OMB re-definitions occur, affected S&P/CSIs may or may not be re-composed (at the discretion of the S&P/Case-Shiller Home Price Index committee). The S&P/CSIs have been developed to facilitate the creation of financial products such as swaps, index-linked notes, and other derivative financial contracts and products. Although based upon the same "repeat sales" technology and underlying data, the features of the S&P/CSI are different than the former, "standard" variety of Case-Shiller® Indexes (CSIs) produced by Fiserv, Inc. for informational purposes. For a summary of these differences, click here. |
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