Richard Whitey

Which is the Most Accurate Home Price Index?

C-S only measures the sale of previously-owned homes.
It does not measure the pricing of newly-constructed homes, nor does it measure the pricing of condominiums. Each of those belong in the category of 'housing', and each have had price reductions more substantial than pre-owned homes. Inventories of each hand over the housing market.
So perhaps C-S is better than OFHEO, but that is a flawed comparison. And C-S does not overstate the housing decline, as one Columbia professor tried to spin. The C-S methodology actually sidesteps the two housing categories with even larger declines.