The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Lizzie Tudor who wrote (21200)	6/2/2004 4:13:53 PM
From: gpowell	Read Replies (1) of 306849

The Federal Report you linked used the ofheo housing price appreciation index as its benchmark. This index includes only a subset of the available housing in an area, specifically the HPI is a weighted repeat sales index, meaning that it measures average price changes in repeat sales or refinancings on the same properties. Further, the HPI is based on transactions involving conforming (currently a mortgage that doesn't exceed $333,700), conventional mortgages purchased or securitized by Fannie Mae or Freddie Mac, and lastly, only mortgage transactions on single-family properties are included. San Mateo country is lumped in with SF and Marin and this composite area showed an aggregate yoy index increase of 5.21%, the US as a whole showed a yoy of 7.71%, and San Jose came in at 2.32%. In Q1-2004, both the San Jose and the SF area have outpaced the nation, albeit only slightly.

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