A news release said the first of several exchange-listed products linked to U.S. housing is anticipated to begin trading on the NYSE/Arca later in 2008 and will reference the S&P/Case-Shiller Composite-10 Home Price Index.
The S&P/Case-Shiller Composite 10 Home Price Index is a weighted composite index of home prices in 10 major metropolitan areas (Metropolitan Statistical Areas, or MSAs). The 10 MSAs include Boston, Chicago, Denver, Las Vegas, Los Angeles, Miami, New York Commuter Index, San Diego, San Francisco, and Washington, D.C.
The S&P/Case-Shiller Home Price Indices, launched in 2006, track the price path of typical single-family homes using the repeat sales technique developed by Karl Case and Robert Shiller. Additionally, the S&P/Case-Shiller U.S. National Home Price Index represents home prices from all nine U.S. Census Divisions, drawing from more than 100 of the largest metropolitan areas and nearly 500 counties.
More information is available at www.homeprice.standardandpoors.com.