Why did CoreLogic pull its daily index?

As reported yesterday, CoreLogic has pulled its daily dwelling values index citing a lack of transactions in the market place:

Due to the evolving COVID-19 situation, CoreLogic will suspend the daily online publication of the Hedonic Home Value Index, as we continue to observe material reductions in the volume of property transactions underpinning the index, creating additional volatility in the daily reading. A robust volume of timely sales evidence is a critical component of accurately estimating the value of residential properties. The monthly results of the index will continue to be reported, but should be interpreted with some caution until transactional activity returns to more normal levels.

This comes despite CoreLogic’s own data showing only a 40% decline in settled transactions over April to levels that are only marginally below the troughs of 2011-12 and the same time last year:

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