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New Evidence on Home Prices from Freddie Mac Repeat Sales
Author(s) -
Abraham Jesse M.,
Schauman William S.
Publication year - 1991
Publication title -
real estate economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.064
H-Index - 61
eISSN - 1540-6229
pISSN - 1080-8620
DOI - 10.1111/1540-6229.00556
Subject(s) - index (typography) , price index , economics , loan , sample (material) , corporation , econometrics , actuarial science , financial economics , business , finance , computer science , chemistry , chromatography , world wide web
The weighted repeat sales price index methodology recently reported in Case and Shiller [5][6] is applied to a dataset of over eight million loans bought by the Federal Home Loan Mortgage Corporation over the last twenty years. Regional price indices are reported and compared to indices from other sources. Statistical issues in the creation of the index, both technical and due to sample selectivity of the Freddie Mac dataset, are extensively discussed. It is found that the new index grows at a rate similar to other indices up until 1985, after which time it grows at a significantly higher rate.