A Cross-Country Quarterly Database of Real House Prices: A Methodological Note

Posted: 14 Jul 2021

See all articles by Adrienne Mack

Adrienne Mack

affiliation not provided to SSRN

Enrique Martínez-García

Federal Reserve Bank of Dallas - Research Department

Date Written: 2011

Abstract

We build from (mainly) publicly available national sources a database of (nominal and real) house prices?complemented with data on private disposable income (PDI)?for 19 advanced countries at a quarterly frequency, starting in the first quarter of 1975. We select a house price index for each country that is consistent with the U.S. FHFA quarterly nationwide house price index for existing single-family houses (formerly called OFHEO house price index), and extend the country series back to 1975 with available historical data whenever necessary. Each house price index is seasonallyadjusted over the entire sample period and then rebased to 2005 = 100.> ; The house price indexes are expressed in nominal terms, and also in real terms using the personal consumption expenditure (PCE) deflator of the corresponding country. PDIs are always quoted in per capita terms using working age population of the corresponding country and can be similarly expressed in real terms with the PCE deflator. We aggregate all 19 countries in our database, weighted by their purchasing power parity-adjusted GDP shares in 2005, to compute an average (nominal and real) house price series and an average (nominal and real) per capita PDI series.

Suggested Citation

Mack, Adrienne and Martinez-Garcia, Enrique, A Cross-Country Quarterly Database of Real House Prices: A Methodological Note (2011). Available at SSRN: https://ssrn.com/abstract=3885389

Adrienne Mack (Contact Author)

affiliation not provided to SSRN

No Address Available

Enrique Martinez-Garcia

Federal Reserve Bank of Dallas - Research Department ( email )

2200 North Pearl Street
PO Box 655906
Dallas, TX 75265-5906
United States
214-922-5262 (Phone)

HOME PAGE: http://sites.google.com/view/emgeconomics

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