This paper examines index revision in measuring the prices for owner-occupied housing. We consider the context of equityinsurance and the settlement of futures contracts. In addition to other desirable characteristics for aggregate price indexes, their usefulness in these contexts requires...

This paper examines the dynamics of owner-occupied housing prices both at thelevel of the individual dwelling and in aggregate. Using a unique data set, a modelof individual dwelling prices is estimated that represents features of housing marketsmore faithfully than competing models. Statistical...