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The Interaction of Building Codes and Housing Prices

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  • Eli M. Noam

Abstract

The study analyzes the effect of restrictive building codes on the price of housing, and the simultaneous impact of housing values on the strictness of codes. A model is defined and estimated, using data for more than 1100 localities. The results show that strict codes raised housing values, in 1970, by about one thousand dollars. They furthermore show that the strictness of codes is in turn affected by housing values, as well as by the strength of construction unions. Homeowners and construction unions are thus both observed to gain from restrictive building codes, which can explain the prevalence of such regulations.

Suggested Citation

  • Eli M. Noam, 1982. "The Interaction of Building Codes and Housing Prices," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 10(4), pages 394-404, December.
    • Handle: RePEc:bla:reesec:v:10:y:1982:i:4:p:394-404
    DOI: 10.1111/1540-6229.00271
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    Cited by:

    1. Randy Dumm & G. Sirmans & Greg Smersh, 2011. "The Capitalization of Building Codes in House Prices," The Journal of Real Estate Finance and Economics, Springer, vol. 42(1), pages 30-50, January.
    2. John Landis & Vincent J. Reina, 2021. "Do Restrictive Land Use Regulations Make Housing More Expensive Everywhere?," Economic Development Quarterly, , vol. 35(4), pages 305-324, November.

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