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[CME Housing Index] 10-City Index Showed Less Decline

Chicago Mercantile Exchange (CME) [1], along with noted economist Robert Shiller’s MacroMarkets, Fiserv and Standard & Poor’s, have created a market exchange for futures and options contracts on home prices in ten cities in the United States [2]. The data feed from the index is provided to Matrix from Tradition Financial Services (TFS) [3], a broker that executes housing futures and options.

Trading for this new index concept began on May 22nd and trading still appears relatively light so I only plan to post an update once per week.

Recap
Miami leads all markets with 212 contracts, followed by LA with 140 (why LA?) New York took over 3rd place from San Diego with 82 contracts. Denver is on the bottom of the list with 13 contracts (none sold this week). To date, 773 contracts have been purchased (124 this week) with an open interest value of $47,031,375. Still not a lot of activity.

Pricing for the 10-city index shows a 3.75% price drop through May 2007 which is a sligh improvement over the 4.02% decrease seen in that indicator.

See archived posts in Matrix that cover the CME Housing Index [4]

Delayed Futures & Options Quotes (up to 10 min) [5]