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New Place-to-Place Housing Price Indexes for U.S. Metropolitan Areas, and Their Determinants


  • Stephen Malpezzi
  • Gregory H. Chun
  • Richard K. Green


Housing prices vary widely from market to market in the United States. The purpose of this study is to (1) construct new place-to-place indexes of the price of housing, using the 1990 Census, and (2) analyze the determinants of housing prices, with a particular focus on the supply side determinants-regulatory and natural constraint-as well as the usual demand determinants. Copyright American Real Estate and Urban Economics Association.

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  • Stephen Malpezzi & Gregory H. Chun & Richard K. Green, 1998. "New Place-to-Place Housing Price Indexes for U.S. Metropolitan Areas, and Their Determinants," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 26(2), pages 235-274.
  • Handle: RePEc:bla:reesec:v:26:y:1998:i:2:p:235-274

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    2. Haavio, Markus & Kauppi, Heikki, 2009. "House price fluctuations and residential sorting," Research Discussion Papers 14/2009, Bank of Finland.
    3. Michael G. Wenz & William Wei-Choun Yu, 2016. "Housing Price Fundamentals through the Business Cycle," European Journal of Business Science and Technology, Mendel University in Brno, Faculty of Business and Economics, vol. 2(2), pages 91-106, December.
    4. Esmeralda A. Ramalho & Joaquim J.S. Ramalho, 2014. "Convenient links for the estimation of hedonic price indexes: the case of unique, infrequently traded assets," Statistica Neerlandica, Netherlands Society for Statistics and Operations Research, vol. 68(2), pages 91-117, May.
    5. Doina Chichernea & Norm Miller & Jeff Fisher & Bob White & Michael Sklarz, 2008. "ACross-Sectional Analysis of CapRates by MSA," Journal of Real Estate Research, American Real Estate Society, vol. 30(3), pages 249-292.
    6. Huang, Haifang & Tang, Yao, 2012. "Residential land use regulation and the US housing price cycle between 2000 and 2009," Journal of Urban Economics, Elsevier, vol. 71(1), pages 93-99.
    7. Xudong An & Jeffrey D. Fisher & David Geltner, 2016. "Cash Flow Performance of Fannie Mae Multifamily Real Estate: Evidence from Repeated NOI and EGI Indices," The Journal of Real Estate Finance and Economics, Springer, vol. 52(4), pages 512-542, May.
    8. Bettina Aten & Eric Figueroa & Troy Martin, 2011. "Notes on Estimating the Multi-Year Regional Price Parities by 16 Expenditure Categories: 2005-2009," BEA Working Papers 0071, Bureau of Economic Analysis.
    9. Crews Cutts, Amy & Olsen, Edgar O., 2002. "Are Section 8 housing subsidies too high?," Journal of Housing Economics, Elsevier, vol. 11(3), pages 214-243, September.
    10. Nan-Kuang Chen & Charles Leung, 2008. "Asset Price Spillover, Collateral and Crises: with an Application to Property Market Policy," The Journal of Real Estate Finance and Economics, Springer, vol. 37(4), pages 351-385, November.
    11. Oikarinen, Elias & Peltola, Risto & Valtonen, Eero, 2015. "Regional variation in the elasticity of supply of housing, and its determinants: The case of a small sparsely populated country," Regional Science and Urban Economics, Elsevier, vol. 50(C), pages 18-30.
    12. Cheung, Ron & Ihlanfeldt, Keith & Mayock, Thomas, 2009. "The regulatory tax and house price appreciation in Florida," Journal of Housing Economics, Elsevier, vol. 18(1), pages 34-48, March.
    13. Albouy, David & Lue, Bert, 2015. "Driving to opportunity: Local rents, wages, commuting, and sub-metropolitan quality of life," Journal of Urban Economics, Elsevier, vol. 89(C), pages 74-92.
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    15. Marah Curtis & Jane Waldfogel, 2009. "Fertility Timing of Unmarried and Married Mothers: Evidence on Variation Across U.S. Cities from the Fragile Families and Child Wellbeing Study," Population Research and Policy Review, Springer;Southern Demographic Association (SDA), vol. 28(5), pages 569-588, October.
    16. Korpi, Martin & Clark, William, 2013. "Human Capital Theory And Internal Migration: Do Average Outcomes Distort Our View Of Migrant Motives?," Ratio Working Papers 213, The Ratio Institute.
    17. Matthew J Osborne & Nathan H. Miller, 2011. "Competition among Spatially Differentiated Firms: An Estimator with an Application to Cement," BEA Working Papers 0072, Bureau of Economic Analysis.
    18. Markus Haavio & Heikki Kauppi, 2006. "House price fluctuations and residential sorting," 2006 Meeting Papers 774, Society for Economic Dynamics.
    19. Eric Heikkila & Michael Lin, 2014. "An integrated model of formal and informal housing sectors," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 52(1), pages 121-140, January.
    20. Early Dirk W. & Olsen Edgar O., 2002. "Subsidized Housing, Emergency Shelters, and Homelessness: An Empirical Investigation Using Data from the 1990 Census," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 2(1), pages 1-36, August.
    21. Marin V. Geshkov & Joseph S. DeSalvo, 2012. "The Effect Of Land-Use Controls On The Spatial Size Of U.S. Urbanized Areas," Journal of Regional Science, Wiley Blackwell, vol. 52(4), pages 648-675, October.
    22. David Albouy, 2009. "The Unequal Geographic Burden of Federal Taxation," Journal of Political Economy, University of Chicago Press, vol. 117(4), pages 635-667, August.
    23. David Albouy, 2009. "What Are Cities Worth? Land Rents, Local Productivity, and the Capitalization of Amenity Values," NBER Working Papers 14981, National Bureau of Economic Research, Inc.
    24. Quan Gan & Robert J. Hill, 2008. "A New Perspective on the Relationship Between House Prices and Income," Discussion Papers 2008-13, School of Economics, The University of New South Wales.

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