In 2013, CoreLogic, a global property information provider, acquired the Case-Shiller index but it was only until yesterday that CoreLogic’s role as the indices data provider reflected in its branding when the company announced that its name was added to the S&P/Case-Shiller Home Price Indices, which will now be known as the S&P CoreLogic Case-Shiller Indices.
“The idea of changing the name has been under discussion between S&P and CoreLogic for some time. CoreLogic has owned the Case-Shiller Index since 2013 and continues to license it to S&P,” said a spokesperson at CoreLogic.
Nowadays, CoreLogic is responsible for the HPI model, the massive amount of data collection and scrubbing that goes on each month, as well as the actual HPI calculations. In addition to the S&P CoreLogic Case-Shiller Index, CoreLogic also produces a separate Case-Shiller HPI and a CoreLogic HPI, which are used by more than 200 lenders, investment banks, GSEs, regulatory agencies, think tanks and the Federal Reserve, added the spokesperson.
“Today’s announcement reflects the essential role CoreLogic plays in powering global, industry-currency real estate indexes,” said Olumide Soroye, managing director. “We look forward to expanding our relationship with S&P Dow Jones Indices and continuing to develop data-driven solutions that power smart decision-making within the housing market.”
Since Karl ‘Chip’ Case and Robert Shiller joined with S&P Dow Jones in 2006 to commercialize and publish the S&P/Case-Shiller Home Price Indices, the report has become a prominent measure of U.S. residential real estate prices nationally and for 20 of the major metropolitan regions in the country.