TY  - JOUR
AU  - Case,Karl E.
AU  - Shiller,Robert J.
TI  - Prices of Single Family Homes Since 1970:  New Indexes for Four Cities
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 2393
PY  - 1987
Y2  - September 1987
DO  - 10.3386/w2393
UR  - http://www.nber.org/papers/w2393
L1  - http://www.nber.org/papers/w2393.pdf
N1  - Author contact info:
Karl E. Case
E-Mail: N/A user is deceased

Robert J. Shiller
Yale University, Cowles Foundation
Box 208281
30 Hillhouse Avenue
New Haven, CT  06520-8281
Tel: 203/432-3708
Fax: 203/432-6167
E-Mail: robert.shiller@yale.edu
AB  - This paper uses data on nearly a million homes sold in four metropolitan areas -- Atlanta, Chicago, Dallas and San Francisco -- to construct quarterly indexes of existing home prices between 1970 and 1986. We propose and apply a new method of constructing such indexes which we call the weighted repeat sales method (WRS). We believe the results give an accurate picture of the actual rate of appreciation in home prices in the four cities. The paper explains the construction of the index, discusses the results and compares them with the National Association of Realtors data on the median price of existing single family homes for the period 1981 - 1986.
ER  -