Tuesday, August 25, 2009

Four Housing Indices Show the Same Thing

This next chart shows the OFHEO housing price index through June: it showed a turn-around even earlier than Case-Shiller did and continues to confirm that view.

This next chart is from Sean MacLeod (thank you sir! he sent it before the June OFHEO was released), comparing 4 different indices. When I turn back to revising my paper about housing prices and construction, I will learn about the RPX index, but for now all I know is that Sean MacLeod makes a good case that it should be considered.

Finally, the BEA has a quarterly index of the price of new "residential structures" (that is, housing!). The chart below shows that index together with quarterly averages of C-S and OFHEO through 2009 Q2.

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