S&P Case Shiller Tampa Home Price Index
The S&P/Case-Shiller Tampa Home Price Index measures changes in the value of residential real estate market in Tampa, Florida over the last twenty years.
While various government agencies and trade associations also measure the housing market, the Case-Shiller Index is widely considered the most definitive.
Based on a methodology developed by economists Karl Case and Nobel Prize-winner Robert Shiller, the indices are now published by Standard & Poor’s. The monthly report uses data on single-family home re-sale pairs. For example, each new sale is compared against the previous sale of the same property to determine the annual change in value. Changes in the value of residential real estate are calculated using a three month moving average with a two-month lag. The indexes are released on the last Tuesday of each month.
The Case-Shiller Composite 10 Index includes Boston, Chicago, Denver, Las Vegas, Los Angeles, South Florida, New York, San Diego, San Francisco and Washington. The Composite 20 Index adds: Tampa, Atlanta, Dallas/Fort Worth, Detroit, Minneapolis-St. Paul, Charlotte, Cleveland, Phoenix, Portland, Seattle.
The Case-Shiller website contains data sets that can be downloaded for Tampa, Florida.
The Federal Reserve of St Louis also has a nice interactive chart: FRED Chart TPXRSA.
Note: Both The OFHEO House Price Index and the Case-Shiller Index track housing sales in the Tampa Bay area. Both studies use same-home sales method (repeat-valuations framework) to measure home price fluctuation in the Tampa Bay metro market. For discussion of how these indexes differ, see: “A Note on the Differences between the OFHEO and S&P/Case-Shiller House Price Indexes”.