Table of Contents
 
 
Introduction 3
Partnership 3
Highlights 3
Eligibility Criteria  5
Inclusions and Exclusions  5
Index Construction  6
Approaches 6
Index Calculations  6
The Weighting of Sales Pairs  7
Metro Areas  8
Composites 10
Calculating Composite Index History  10
Calculating the Composite Indices with Normalized Weights  14
Index Construction Process  16
Pairing Sales and Controlling Data Quality  17
The Division of Repeat Sales Pairs into Price Tiers  18
The Weighting of Sale Pairs  19
Repeat Sales Methodology  21
Introduction 21
Value-Weighted Arithmetic Repeat Sales Indices  21
Interval and Value-Weighted Arithmetic Repeat Sales Indices   23
Pre-Base and Post-Base Index Estimation  25
U.S. National Index Methodology  27
Introduction 27
Calculating U.S. National Index History  27
Census Division and State Coverage  29 
Standard & Poor’s:  S&P/Case-Shiller Home Price Indices Methodology  2
Calculating the U.S. National Index with Normalized Weights  31
Updating the U.S. National Index  31
Updating the Base Weights  31
Index Maintenance  33
Updating the Composite Indices  33
Updating the Base Weights  33
Revisions 33
Base Date  33
Index Governance  34
Index Committee  34
Index Policy  35
Announcements 35
Holiday Schedule  35
Restatement Policy  35
Index Dissemination  36
Tickers 36
Web site  37
S&P Contact Information  38
Index Management  38
Media Relations  38
Index Operations & Business Development  38
Disclaimer 39