Case-Shiller index
The Case-Shiller Home Price Indices are a family of repeat-sales measures tracking U.S. single-family home prices, published by Standard & Poor's and covering national, 10-city, 20-city composites, and 20 individual metro areas. Developed by economists Karl Case, Robert Shiller, and Allan Weiss, the methodology became commercially available via their company Case Shiller Weiss in 1991 (later acquired by Fiserv and then CoreLogic in 2013). While Standard & Poor's data is normalized to 100 in January 2000, Shiller's own dataset extends back to 1890, offering an exceptionally long historical view of price changes. The index dramatically documented the recent housing boom and bust, peaking in the first quarter of 2006 at 198.01, before crashing to 113.89 by the first quarter of 2012 amid the global real estate crisis. Shiller's 2005 book Irrational Exuberance pointed to the "rocket-like" rise in prices and questioned long-term stability, though he stopped short of declaring a bubble at that time. Today, the indices underpin tradable options and futures listed on the Chicago Mercantile Exchange, making them vital for both economists and financial markets.
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