1. Undergraduate Economics Association
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By: Jeevan Parameswaran, Spencer Petitti (VPs of Editorial Content)
Week 5

2. Undergraduate Economics Association
Overview
1. New Residential Construction Report
1. Building Permits Survey
2. Survey of Construction
1. Housing Starts
2. Housing Completions
2. S&P’s Case-Shiller Index
1. National
2. 10-city
3. 20-city
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3. Undergraduate Economics Association
NewResidentialConstructionReport
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• Released jointly by U.S. Census Bureau and Department of Housing
and Urban Development
• Building Permits Survey
• At or around 12th working day of following month
• Revised on the 18th
• Survey of Construction
• At or around 12th working day of following month
• Leading indicators!
• Can lower bond prices, causing interest rates to rise
• New privately-owned residential buildings authorized by permit or
in area not requiring permit (4 major regions of US)
• Building Permits
• Housing Starts
• Housing Completions

4. Undergraduate Economics Association
S&P’sCase-ShillerIndex
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• Tracks changes in value of residential real estate
• Calculated as a price indices
• Base year 2000, base value 100
• Released last Tuesday of each month
• Uses the “repeat sales method” of index calculation
• Uses data on properties that have sold at least twice
• Lagging Indicator
• 3 different calculations:
• Case-Shiller National Home Price Index
• Calculated quarterly
• Composite based on the 9 U.S Census divisions (4
main)
• Case-Shiller 20-City Composite Home Price Index
• Calculated monthly using 3-month moving
average
• Case-Shiller 10-City Composite Home Price Index
• Calculated monthly using 3-month moving
average

5. Undergraduate Economics Association
Composite of 10
Boston
Chicago
Denver
Las Vegas
Los Angeles
Miami
New York
San Diego
San Francisco
Washington, D.C.
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Composite of 20
Atlanta
Boston
Charlotte
Chicago
Cleveland
Dallas
Denver
Detroit
Las Vegas
Los Angeles
Miami
Minneapolis
New York
Phoenix
Portland
San Diego
San Francisco
Seattle
Tampa
Washington, D.C.
U.S. National

6. Undergraduate Economics Association

7. Undergraduate Economics Association

8. Undergraduate Economics Association
Upcoming:
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• SQL Workshop
• In two weeks, will go over the basics of using SQL
Database
• Article Report
• Come prepared with a 1 page report on your selected
indicators
• The report should touch on the following:
• Data (current and past 6 months)
• Impact Assessment
• Future Expectations