The weighted repeat sales price index methodology recently reported in Case and Shiller [5][6] is applied to a dataset of over eight million loans bought by the Federal Home Loan Mortgage Corporation over the last twenty years. Regional price indices are reported and compared to indices from other sources. Statistical issues in the creation of the index, both technical and due to sample selectivity of the Freddie Mac dataset, are extensively discussed. It is found that the new index grows at a rate similar to other indices up until 1985, after which time it grows at a significantly higher rate. Copyright American Real Estate and Urban Economics Association.
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Article provided by American Real Estate and Urban Economics Association in its journal Real Estate Economics.
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Anthony Pennington-Cross, 2005.
"Aggregation bias and the repeat sales price index,"
BIS Papers chapters,
in: Bank for International Settlements (ed.), Real estate indicators and financial stability, volume 21, pages 323-335
Bank for International Settlements.
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