|Unit||Index 2005=100, SA|
The Globalization and Monetary Policy Institute of the Federal Reserve Bank of Dallas produces an international house price database, which comprises quarterly house price and personal disposable income (PDI) series for a number of countries. All data series begin in first quarter 1975.
The Federal Reserve Bank of Dallas selects a house price index for each country that is most consistent with the quarterly U.S. house price index for existing single-family houses produced by the Federal Housing Finance Agency. They extend the preferred series for each country back to first quarter 1975 either with historical data or with data from secondary sources. Each country’s house price index is seasonally adjusted over the entire sample period with an unobserved components time series model and then rebased to 2005 = 100 (fixed weight).
PDI series are quoted in per capita terms using working-age population. Both the house price and PDI series are quoted in nominal and real terms. Real values are computed using the personal consumption expenditure deflator. For each series, they produce a weighted average of all countries in the database, using purchasing power parity-adjusted gross domestic product shares in 2005.
A detailed description of the sources and methodology can be found in Mack and Martínez-García (2011) which is updated whenever modifications to the database occur.
The aggregate series (geo code = IWRLD) is the composed of all available geographies and will change when geographies are added or removed from the data set.
The international house price database is updated on a quarterly basis. New datasets are posted with a three-month lag to ensure a sufficient number of new country observations in each quarterly release. When new observations are not yet available, the source completes the series with their own forecasts. Those forecasts are replaced in subsequent revisions as the corresponding quarterly observations become available.
The information above was taken directly from the source, the Federal Reserve Bank of Dallas, at: http://www.dallasfed.org/institute/houseprice/