Estimating Price Paths for Residential Real Estate
Several 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.
Volume (Year): 25 (2003)
Issue (Month): 3 ()
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