CR -- should house purchase data index be considered more reliable than data with refi added ? After all, the former relies on real market prices, the latter on estimates.
erg, the OFHEO provides a graph showing the differences (on page 6). I think the answer to your question is yes - the purchase data index is probably better - but they move together (the refi has bigger swings). For the purposes of following the market in general, I think the HPI is OK.
CR -- should house purchase data index be considered more reliable than data with refi added ? After all, the former relies on real market prices, the latter on estimates.
I have much info posted on my blog about the OFHEO report.
Bubble Meter Blog"
erg, the OFHEO provides a graph showing the differences (on page 6). I think the answer to your question is yes - the purchase data index is probably better - but they move together (the refi has bigger swings). For the purposes of following the market in general, I think the HPI is OK.
Best Regards.