What is the price index for housing?
Can someone explain to me in sufficient detail? For example, said that the index of home prices for a household in Nov.2008 was 168.1 What is that? price? PLZ explain. Thank you!
An index is a way to market. A index of housing prices is an average indicator for the housing market. If the rise in housing prices in a place and a decrease in the other, the index calculates the average overall price performance. The rates usually start with a definition when the value of 100 and up (or down) over time. So if you listen Hosuing price index is 168.1, you know Hosuing prices increased by 68.1% since the index began. If you know the index value of last year, also know how housing prices has changed significantly over the past 12 months. Note that the rate of Can not say the change in the value of a house, because there are many factors individual and local stakeholders that are not reflected in the index.
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