Local House Price Indexes: 1982-1991

Haurin, Donald R.; Hendershott, Patric H.; Kim, Dongwook

Download This Paper

Open PDF in Browser

Add Paper to My Library

Local House Price Indexes: 1982-1991

NBER Working Paper No. w3933

33 Pages Posted: 9 Jun 2004 Last revised: 2 Oct 2022

See all articles by Donald R. Haurin

Patric H. Hendershott

University of Aberdeen - Centre for Property Research; National Bureau of Economic Research (NBER)

Dongwook Kim

University of Rochester - Wallis Institute of Political Economy

Date Written: December 1991

Abstract

We begin with a description of three house price panel data sets for the period 1982 to 1991. Next, we estimate a model that assumes the three sources are derived from an underlying unobserved price series, and we construct composite indexes that report house prices for 135 locations. These series can be used either as explanatory variables in studies of household formation, housing demand, and migration or to test models of the determinants of spatial and intertemporal variations in house prices. Finally, we construct regional series (based, alternatively, on census and Salomon Brothers regions) and two national aggregates and describe their movements. Our series are compared to other local, regional, and national series.

Suggested Citation: Suggested Citation

Haurin, Donald R. and Hendershott, Patric H. and Kim, Dongwook, Local House Price Indexes: 1982-1991 (December 1991). NBER Working Paper No. w3933, Available at SSRN: https://ssrn.com/abstract=228004