Despite the importance of single-family asset values for consumers and the economy, government statistics are generally lax, leaving many private parties to estimate changes in home values. While we believe that most home price measures have at least some merit, it is important to note that there is not one dataset that is flawless and recognize that measuring home prices is more of an art than science. To simplify the subject, we have constructed an existing home price index that incorporates the various data available to us, which serves as the bogey for our views on pricing. We publish our updated home price appreciation forecasts quarterly, or more frequently when required, including detailed thoughts and analyses behind our outlook.
