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by CareyBot

Ten additional U.S. cities will be added to a closely watched home-price index used as a benchmark for investors active in housing futures trading. Standard & Poor's said today it is adding 10 cities to the S&P/Case-Shiller Home Price indices, expanding coverage to a total of 20 metropolitan areas. The Chicago Mercantile Exchange in May began trading futures contracts based on the S&P/Case-Shiller Home Price indices. Beginning Dec. 26, 2006, the following cities will be added to the S&P/ Case-Shiller Home Price Indices: Atlanta, Charlotte, Cleveland, Dallas, Detroit, Minneapolis, Phoenix, Portland (Oregon), Seattle and Tampa. In addition, a 20-city weighted composite index will also be published. "In just seven months, the S&P/Case-Shiller Home Price Indices has es...