IDEAS home Printed from
   My bibliography  Save this article

A More Timely House Price Index


  • Elliot Anenberg

    (Federal Reserve Board)

  • Steven Laufer

    (Federal Reserve Board)


Using listings data, we construct a new repeat-sales house price index that describes house values at the contract date when the price is determined rather than the closing date when the property is transferred. We showthat this difference in timing helps explain several puzzles about house prices, including their strong short-term serial correlation and their weak correlation with stock prices and macroeconomic news shocks. In addition, we showthat a variant of our index that relies exclusively on listings data for recent transactions accurately reveals trends in house prices several months before existing price indexes like Case-Shiller become available.

Suggested Citation

  • Elliot Anenberg & Steven Laufer, 2017. "A More Timely House Price Index," The Review of Economics and Statistics, MIT Press, vol. 99(4), pages 722-734, July.
  • Handle: RePEc:tpr:restat:v:99:y:2017:i:4:p:722-734

    Download full text from publisher

    File URL:
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to search for a different version of it.


    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.

    Cited by:

    1. Michele Loberto & Andrea Luciani & Marco Pangallo, 2020. "What do online listings tell us about the housing market?," Papers 2004.02706,
    2. Wang, Xiaodan & Li, Keyang & Wu, Jing, 2020. "House price index based on online listing information: The case of China," Journal of Housing Economics, Elsevier, vol. 50(C).
    3. Peter Chinloy & William D. Larson, 2017. "The Daily Microstructure of the Housing Market," FHFA Staff Working Papers 17-01, Federal Housing Finance Agency.
    4. Jinah Yang & Daiki Min & Jeenyoung Kim, 2020. "The Use of Big Data and Its Effects in a Diffusion Forecasting Model for Korean Reverse Mortgage Subscribers," Sustainability, MDPI, Open Access Journal, vol. 12(3), pages 1-17, January.

    More about this item


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:tpr:restat:v:99:y:2017:i:4:p:722-734. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ann Olson). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.