HedgeStreet Expands Housing Price Contracts

The HedgeStreet exchange has announced the expansion of its housing price contracts to 10 major metropolitan areas.The binary option contracts, in $100 denominations, are benchmarked against the median sales prices of existing single-family homes reported by the National Association of Realtors, the San Mateo, Calif.-based exchange said. The expansion adds the Las Vegas, Denver, and Washington markets to those of Chicago, Los Angeles, Miami, New York, San Diego, San Francisco, and Boston. "The markets, which HedgeStreet pioneered two years ago and have since been copied by other exchanges, now have a track record of accurately forecasting the median value of residential housing, which is useful to home buyers, sellers, and real estate industry participants," the company said. HedgeStreet can be found online at http://www.hedgestreet.com.