OFHEO data ignores the tremendous amount of dollars put into kitchen remodels, additions, pools and backyard barbeques, and myriad other contracting work on the house. A kitchen remodel typically costs $60K, so it could increase the value of a $600K house by 10%. Thus, the OFHEO data is somewhat overstating the changes in price.

Campbell used DataQuick for Existing Home Sales, Construction Research Industry Board for New Building Permits, the SD Cty Recorders Office for NODs and Foreclosure Sales. The appendix of his book lists this data from 1988 – 2004 in 4 tables. Table 5 is interest rates.