_[Chicago Mercantile Exchange (CME)](http://www.cme.com/), along with noted economist Robert Shiller’s MacroMarkets, Fiserv and Standard & Poor’s, [have created a market exchange for futures and options contracts on home prices in ten cities in the United States](http://www.project-syndicate.org/commentary/shiller36/English). The data feed from the index is provided to Matrix from [Tradition Financial Services (TFS)](http://www.tfsbrokers.com/), a broker that executes housing futures and options._

Recap
Since nearly the beginning, Miami has lead all markets, now with 273 contracts, followed by LA with 192 and New York with 170 contracts (only 1 new contract since last week though). Denver remains on the bottom of the list with 18 contracts. To date, 1,109 contracts have been purchased with an open interest value of $67,550,518. Should we be concerned about the lack of activity? Probably not.

Pricing for the 10-city index shows a 4.64% price drop through May 2007 which, oddly enough is a slight improvement over the 4.82% decrease seen in that indicator last week. The price declines ranges from -2.39% (in Denver) to -6.58% (in San Francisco). All 10 cities showed lesser declines in this week’s figures over last week’s figures.

[See archived posts in Matrix that cover the CME Housing Index](http://matrix.millersamuelv2.wpenginepowered.com/index.php?s=cme&submit=Search)

[Delayed Futures & Options Quotes (up to 10 min)](http://www.cme.com/trading/dta/del/product_list.html?ProductType=hng)