House prices jump 10.9% as 'race for space' intensify.
The HPI measures the price changes of residential housing as a percentage change from a specific start date.The methods used to calculate a HPI are the hedonic regression, simple moving average, and repeat-sales regression.
The US Federal Housing Finance Agency is a federal agency.The HPI index is a broad measure of single- family house prices.
The HPI is a weighted, repeat-sales index, meaning that it measures average price changes in repeat sales or refinancings on the same properties in 363 metropolises.This information is obtained by looking at repeat mortgage transactions on single- family properties that have been purchased by Fannie Mae or Freddie Mac.
Since the HPI index only includes houses with mortgages within the conforming amount limits, the index has a natural cap and does not account for jumbo mortgages.
OFHEO's responsibilities as a regulator of Fannie Mae and Freddie Mac led to the creation of the HPI.It is used to measure their capital against their assets, which are mostly home mortgages.
The Federal Housing Finance Agency became part of OFHEO on July 30, 2008.The FHFA HPI is a new name for the index.
The Case-Shiller index prices are measured monthly and tracked by a modified version of the weighted-repeat sales methodology proposed by Robert Shiller and Allan Weiss.It is able to adjust for the quality of the homes sold, unlike simple averages.
The Case-Shiller index has a lag time.Typically, it takes about 2 months for S&P to publish the results, as opposed to 1 month for most other monthly indicators.For specific metropolitan areas and for the top 20 and top 10 metro areas, specific indexes are available.
FNC Inc. publishes the Residential Price Index, which is based on data collected from public records blended with data from real-time appraisals of property and neighborhood attributes.The mortgage industry has a hedonic price index for residential properties.The RPI excludes sales of foreclosed properties.[2]
The lag time for the RPI is about two months.The top 10, 20, 30, and 100 metro areas have specific indices.The zip code level of the RPI can be used to track price trends for specific characteristics.preferences can change over time