CoreLogic, an Irvine, California based provider of property information, analytics and services, announced today that it had acquired Case-Shiller from Finserv, Inc. on March 20, 2013. No financial details were disclosed.
Core logic noted that it's home price metrics were complementary to Case-Shiller in that they both use the same baseline methodology, and would continue to offer CoreLogic HPI separately.
The Case-Shiller Indices track home price changes in one group of 10 metropolitan areas and a second group covering those and 10 additional areas. The 10-City and 20-City indexes are also combined into a composite index. Both Case Shiller and CoreLogic use the "repeat sales" method for index calculation, analyzing data on single-family properties that have two or more recorded sales transactions. The methodology was developed by economists Robert Shiller and Carl Case in the early 1990's.
Case-Shiller will continue to publish its own Home Price Index supervised by Mark Fleming, chief economist. David Stiff, chief economist for Case-Shiller will supervise the preparation of the Core-Logic Case-Shiller Indexes and will comment on their findings.
The most widely recognized Case-Shiller Index will retain it's name: The S&P/Case-Shiller Home Price Index, though it will be produced by CoreLogic. The other Case Shiller Indices will be renamed the "CoreLogic Case-Shiller Indexes" according to the release. The timing and distribution of the report is not affected.
More info from CoreLogic can be found HERE.