Figure 8 shows the level of the CCQI from 1990 through mid 2007.
Overall, the CCQI does a good job of estimating the aggregate price for new homes at metro area edges.
Figure 9 shows the year-over-year growth rates of the indexes of aggregate housing prices based on the NAR median price of existing homes (average methodology), the OFHEO purchase-only price index (repeat sales methodology), and the CCQI (hedonic methodology).
Second is the relatively slower growth of the CCQI beginning in 1995.
Figure 9 also shows that a fourth comparative characteristic among the series is the higher short-term volatility of the NAR and CCQI indexes.
For this, the CCQI is obviously relevant as it gives the rate of price inflation against which developers are competing.