Eurnonext is preparing to launch a Paris home price index futures contract later this year. They’ve sent out “Save the Date” notice for a presentation on May 23rd (see below) to discuss the reference index, and other “perspectives and innovations”. My hope is that this launch will revitalize discussion of … Read More
With Seattle being one of the strongest home price markets in the country, some homeowners might be worried about a retreat in prices. Of course, they might prefer not to sell their homes, uproot their families, and move into a rental for both cost and logistical reasons, just to express … Read More
Quotes on the CME Case Shiller futures moved higher today after this morning’s release of the February Case Shiller indices. The line “Mid-Mid change” in the table below highlights the change in prices for the 11 contracts (the Case Shiller 10-city index, and one for each of the ten composite … Read More
With all the concerns about home prices, I thought that it would be useful to start a (monthly?) effort to foster discussion on the price of buying down-side price protection on each of the 11 regions traded on the CME.
The table below shows suggested bids and offers on puts … Read More
Here’s an update of quotes across the CME Case Shiller home price futures contracts from early April 16th. I’ve posted as there’s been quite a bit of bid/ask spread compression since March 29th both by regions and across the expirations. For example CHI bids are 6.4 points higher, while offers … Read More
I’ve compiled the following graph to pose the question, and prompt debate: should forward HPAs (i.e. annualized home price appreciation rates) converge across regions?
The graph stitches together year-on-year (YOY) price differences both between the CME Case Shiller home price index futures contracts and historical Case Shiller indices, as well … Read More
I’ve posted a recap of activity in the CME Case Shiller home price index futures (and options) for March in the Reports section (or you can link here). The report contains tables of prices, price changes, graphs of historical and forward prices, and quotes on inter-city and calendar spreads. … Read More
Quotes on the CME home price index futures were little changed after the release of Tuesday’s Case Shiller numbers. The table shows prices from the Nov ’18 contract, from Mar 26th (the day before #’s were announced) and as of the end of trading on Mar 27th. Changes in mid-market … Read More
This morning’s Case Shiller numbers were generally lower than where the CME market had been pricing the expiration of the Feb ’18 contract. Recall that the Feb ’18 contracts settle on the value of the indices released today. I would highlight as “surprises” the six index releases (in yellow) that … Read More