Estimating Price Paths for Residential Real Estate
AbstractSeveral approaches have been used to estimate and adjust for price movements in residential real estate; however, weaknesses remain in current systems. This paper 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. Using illustrative data, it is indicated 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 these more standard versions.
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Bibliographic InfoArticle provided by American Real Estate Society in its journal Journal of Real Estate Research.
Volume (Year): 25 (2003)
Issue (Month): 3 ()
Contact details of provider:
Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
Web page: http://www.aresnet.org/
Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
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