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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: JBTFD who wrote (18357)3/9/2004 6:39:58 PM
From: Elroy JetsonRead Replies (2) of 306849
 
A simple median price index will greatly over-estimate the rate of real estate appreciation where homes have been significantly upgraded, as often occurs.

This is why a Same-Home Appraisal Index such as the RERC indexes of California home prices is the only accurate measure of real estate appreciation. Each home is re-appraised every six months by a board of appraisers.

Other types of indexes will almost always greatly over-state real estate appreciation. As such they make ideal tools for a salesman's flummery. It should not be surprising therefore that many of these indexes are the product of sales associations.

It is unfortunate that very few same-home surveys exist. They require a great amount of resources to conduct and maintain.
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