The index showed that home prices fell in 19 out of the 20 metropolitan statistical areas (MSAs, or cities that make up the index), with eight markets hitting their lowest levels since home prices peaked in 2006 and 2007.

FORBES: Home Prices Double-Dipping Before Spring, Says Case-Shiller Index

The Royal Statistical Society warned that devising a new index was not necessarily the best solution.

BBC: Inflation: No change to RPI calculation