CMHPIConventional Mortgage Home Price Index
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jt], is generated using the CMHPI as presented in the appendix.
The CMHPI are quarterly, nominal, metropolitan-level price indexes for single-family homes from 1975:1 to 1997:2, constructed using the repeat-sales approach of Case and Shiller (1987), which controls for quality by estimating property-specific house-price appreciation.
I calculate the nominal house-price appreciation rate as the difference in the log of the CMHPI.
For the second consecutive quarter in the CMHPI purchase-only series, every region of the nation experienced flat or declining home values over the quarter.
Jointly developed by Freddie Mac and Fannie Mae and first published by Freddie Mac starting in 1994, the CMHPI features indexes for the nine Census divisions as well as a national index.