Standard & Poor’s, index provider and publisher of the widely followed S&P/Case-Shiller Home Price Indices, introduces new indices designed to track condominium prices in five major metropolitan areas in the United States – Boston, Chicago, Los Angeles, New York and San Francisco.
Another significant event from S&P is that it will publish seasonally-adjusted versions of the headline S&P/Case-Shiller Home Price Indices, covering the 20 MSAs, the 10-and 20-City Composites, and the National Composite, as well as seasonally-adjusted versions of the new condominium indices.
The condominium indices will cover five major metropolitan areas and include historical data beginning in January 1995. The seasonally adjusted data will have the same history as its underlying index, which can begin as early as January 1987.
Seasonally-Adjusted Data is complementary part to S&P/Case-Shiller Home Prices Indices. The supplemental data series currently includes sales pair counts and tiered price indices for the 20 major MSAs and Composites covered in the headline indices.
“Prices for condominiums can behave differently than those for single family homes,” says David Blitzer, managing director and chairman, the Index Committee at Standard and Poor’s. “Having access to a broader range of indices will allow property owners, investors and others to better understand how these different residential property types behave, while also providing a more complete picture of the overall existing residential property market.”
New condominium indices and the seasonally-adjusted indices will be published to www.homeprice.standardandpoors.com on 25 November 2008 following the 9 am EST release of the headline indices.
L.D.