Realtors create index

The Florida Association of Realtors announced it has created a home-price index that will track real estate transactions more accurately.

While the index now covers the entire state, the association says it will provide metro-area indexes and it is exploring the creation of commercial real estate indexes based on the same methodology.

To create the quarterly home-price index, the association takes data from county property appraisers as reported to the Florida Department of Revenue. The data tracks consecutive sales of specific properties, providing a more accurate measurement of value than median or average sales prices in an area.