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Home buyers' characteristics and selling prices

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  • Shunfeng Song

Abstract

This study examines the relationship between home buyers' characteristics and selling prices. Using survey on home buyers and the 1990 Multiple Listing Service data on single-family housing transactions in the Reno-Sparks area in Nevada, this study finds that home buyers play a significant role on housing price determination. For a given type of house, higher income home buyers would pay higher prices than lower income home buyers and first-time home buyers would pay lower prices than repeat home buyers.

Suggested Citation

  • Shunfeng Song, 1998. "Home buyers' characteristics and selling prices," Applied Economics Letters, Taylor & Francis Journals, vol. 5(1), pages 11-14.
    • Handle: RePEc:taf:apeclt:v:5:y:1998:i:1:p:11-14
    DOI: 10.1080/758540118
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    References listed on IDEAS

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    1. Shunfeng Song, 1995. "Determinants of Bargaining Outcome in Single-family Housing Transactions: An Empirical Examination," Urban Studies, Urban Studies Journal Limited, vol. 32(3), pages 605-614, April.
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    4. Abdullah Yavaş, 1992. "A Simple Search and Bargaining Model of Real Estate Markets," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 20(4), pages 533-548, December.
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    6. Turnbull, Geoffrey K. & Sirmans, C. F., 1993. "Information, search, and house prices," Regional Science and Urban Economics, Elsevier, vol. 23(4), pages 545-557, September.
    7. Horowitz, Joel L., 1986. "Bidding models of housing markets," Journal of Urban Economics, Elsevier, vol. 20(2), pages 168-190, September.
    8. Witte, Ann D & Sumka, Howard J & Erekson, Homer, 1979. "An Estimate of a Structural Hedonic Price Model of the Housing Market: An Application of Rosen's Theory of Implicit Markets," Econometrica, Econometric Society, vol. 47(5), pages 1151-1173, September.
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    Cited by:

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    3. Yingchao Lin & Zhili Ma & Ke Zhao & Weiyan Hu & Jing Wei, 2018. "The Impact of Population Migration on Urban Housing Prices: Evidence from China’s Major Cities," Sustainability, MDPI, vol. 10(9), pages 1-14, September.

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