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The market for real estate brokerage services in low- and high-income neighborhoods: A 6 city study

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  • Yelowitz, Aaron
  • Scott, Frank
  • Beck, Jason

Abstract

We examine the market structure for real estate brokerage services across six large metropolitan areas, by collecting more than 300,000 real estate listings and computing the Herfindahl-Hirschman Index (HHI) for each neighborhood. When we divide neighborhoods based on income, house value, and race, we find no evidence of redlining; that is, the market structure for brokerage services is at least as competitive in less advantaged neighborhoods as it is in more advantaged ones.

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File URL: http://mpra.ub.uni-muenchen.de/41052/
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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 35608.

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Date of creation: 28 Dec 2011
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Handle: RePEc:pra:mprapa:35608

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Keywords: HHI; real estate brokerage competition; Herfindahl-Hirschman Index; redlining;

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  1. Alicia H. Munnell, 1992. "Mortgage lending in Boston: interpreting HMDA data," Working Papers 92-7, Federal Reserve Bank of Boston.
  2. Caitlin Knowles Myers & Grace Close & Laurice Fox & John William Meyer & Madeline Niemi, 2009. "Retail Redlining: Are gasoline prices higher in poor and minority neighborhoods?," Middlebury College Working Paper Series 0906, Middlebury College, Department of Economics.
  3. Ethan Cohen-Cole, 2008. "Credit card redlining," Risk and Policy Analysis Unit Working Paper QAU08-1, Federal Reserve Bank of Boston.
  4. James A. Berkovec & Glenn B. Canner & Stuart A. Gabriel & Timothy H. Hannan, 1994. "Race, redlining, and residential mortgage loan performance," Proceedings, Federal Reserve Bank of Philadelphia, pages 263-298.
  5. Donald Haurin & Christopher Herbert & Stuart Rosenthal, 2007. "Homeownership Gaps Among Low-Income and Minority Households," Working Papers 07-02, Ohio State University, Department of Economics.
  6. Beck, Jason & Scott, Frank & Yelowitz, Aaron, 2010. "Competition and market structure in local real estate markets," MPRA Paper 27531, University Library of Munich, Germany.
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