Case-Shiller index shows first rise in US housing prices for 3 years. Hopes that the US housing market is recovering have been raised after the closely-watched Standard & Poors/Case-Shiller index showed its first month-on-month increase in almost three years, says Telegraph.
The Case-Shiller Indexes are home price Indices and are constant-quality house price indices for the United States. There are multiple Case-Shiller home price indices, i.e. national home price index, a 20-city composite index, a 10-city composite index, and twenty individual metro area indices etc. The Shiller Index is calculated from data on repeat sales of single family homes, as according to an approach developed by economists Karl Case, Robert Shiller and Allan Weiss.
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