Marking Single-Family Property Values to Market
This paper is the text of the 2001 Presidential Address for the American Real Estate and Urban Economics Association. House price prediction accuracy is a function of: (1) the procedure used to identify within-metropolitan-area housing submarket boundaries, (2) the econometric technique used to estimate the parameters of the house price model and (3) the characteristics of the local housing market. This paper empirically examines several procedures for delineating within-metropolitan-area housing submarket boundaries. In addition, the paper examines the increase in prediction accuracy that can be achieved by employing spatial econometric techniques to spatially adjust ordinary least squares house price predictions. Finally, the paper examines the influence that local housing market characteristics have on house price prediction accuracy. Housing market characteristics examined here are: (1) structural characteristics of neighborhood properties, (2) heterogeneity of the neighborhood housing stock and (3) housing market liquidity. Prediction accuracy is examined using hedonic house price equations with over 40,000 single-family transactions for Dallas, Texas. Copyright 2003 American Real Estate and Urban Economics Association
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 31 (2003)
Issue (Month): 1 (03)
|Contact details of provider:|| Postal: Indiana University, Kelley School of Business, 1309 East Tenth Street, Suite 738, Bloomington, Indiana 47405|
Phone: (812) 855-7794
Fax: (812) 855-8679
Web page: http://www.blackwellpublishing.com/journal.asp?ref=1080-8620
More information through EDIRC
|Order Information:||Web: http://www.blackwellpublishing.com/subs.asp?ref=1080-8620|
When requesting a correction, please mention this item's handle: RePEc:bla:reesec:v:31:y:2003:i:1:p:1-22. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing)or (Christopher F. Baum)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.