I have a question regarding the Case-Shiller HPI. I’ve been reading through the methodology, found at http://www2.standardandpoors.com/spf/pdf/index/SP_Case_Shiller_Home_Price_Indices_Methodology_Web.pdf and came across the following on page 5, “The S&P/Case-Shiller indices do not sample sale prices associated with new
construction, condominiums, co-ops/apartments, multi-family dwellings, or other properties that cannot be identified as single-family.”
Is this intended to mean the index excludes ALL condos, or only newly constructed condos? I read it as meaning the first.
