The Standard & Poor's/Case-Shiller Home Price Index is one of the leading indicators of housing price trends

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The Standard & Poor's/Case-Shiller Home Price Index is one of the leading indicators of housing price trends in the United States. The base year for the index is January 2000. The following table lists index numbers for April 2014 and April 2015 for five cities.
City April 2014 April 2015 New York 174.5 179.3 Miami 183.2 198.5 Phoenix 145.4 150.4 Dallas 136.8 148.8 San Francisco 1

a. In which of these five cities did housing prices increase the fastest from April 2014 to April 2015? In which did they increase the slowest? Briefly explain the basis for your answers.
b. Can you determine from these numbers which city had the highest house prices in April 2015? Briefly explain.

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Economics

ISBN: 978-0134106243

6th edition

Authors: R. Glenn Hubbard

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