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Modeling Spatial, Temporal, and Multivariate Autoregressive Dependence in Real Estate Prices

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  • R. Kelley Pace

    (Louisiana State University)

  • Darren K. Hayunga

    (University of Georgia)

  • James P. LeSage

    (Texas State University)

Abstract

We use parallel processing and improved algorithms to search for the weights given to two locational coordinates as well as three non-locational dimensions to find multidimensional neighbors (previous in time) to fit a multidimensional STAR model. We find that the improvements allow for quick specification searches. The effect of the improved specifications is a material reduction in the standard deviation of the residuals.

Suggested Citation

  • R. Kelley Pace & Darren K. Hayunga & James P. LeSage, 2025. "Modeling Spatial, Temporal, and Multivariate Autoregressive Dependence in Real Estate Prices," The Journal of Real Estate Finance and Economics, Springer, vol. 71(1), pages 1-9, July.
    • Handle: RePEc:kap:jrefec:v:71:y:2025:i:1:d:10.1007_s11146-024-10006-3
    DOI: 10.1007/s11146-024-10006-3
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