Standard & Poor's is going to roll out 11 indexes tied to housing prices next month, The Wall Street Journal reports. Ten of the indexes will be based on prices in major cities and the 11th will be a composite.
Compiling information on prices and sales figures from a variety of public and private sources, including lenders and multiple-listing services, the data will be updated every month to track prices in Boston, Chicago, Denver, Las Vegas, Los Angeles, Miami, New York, San Diego, San Francisco and Washington. The composite index will weight cities that have bigger populations and higher prices, such as New York, more heavily. All of the indexes will enable investors to go long or short.