Estimating Price Paths for Residential Real Estate
24 Pages Posted: 5 Jan 2007
Abstract
Several approaches have been used to estimate and adjust for price movements in residential real estate; however, weaknesses remain in current systems. This study incorporates a different way of measuring temporal price patterns. The method involves a time series model, an approach not previously employed when estimating real estate price movements. The findings indicate that the proposed technique is likely more accurate than current procedures. The method also represents a significant adaptation of standard time series models. For the task at hand, the new model is arguably preferable to the more standard versions.
Keywords: residential, price movements, price pattern
JEL Classification: L85, R11, R21, R31, R34, R51, C32, C35, C51-53
Suggested Citation: Suggested Citation
Do you have negative results from your research you’d like to share?
Recommended Papers
-
The Efficiency of the Market for Single-Family Homes
By Karl E. Case and Robert J. Shiller
-
Prices of Single Family Homes Since 1970: New Indexes for Four Cities
By Karl E. Case and Robert J. Shiller
-
The Baby Boom, the Baby Bust, and the Housing Market
By N. Gregory Mankiw and David N. Weil
-
Forecasting Prices and Excess Returns in the Housing Market
By Karl E. Case and Robert J. Shiller
-
The Behavior of Home Buyers in Boom and Post-Boom Markets
By Karl E. Case and Robert J. Shiller
-
Leverage and House-Price Dynamics in U.S. Cities
By Owen A. Lamont and Jeremy C. Stein
-
By Karl E. Case, Robert J. Shiller, ...
-
Leverage and House-Price Dynamics in U.S. Cities
By Owen A. Lamont and Jeremy C. Stein
-
The Long-Run Relationship between House Prices and Income: Evidence from Local Housing Markets