Accuracy of Regional Single-Family Housing Start Forecasts
Regional single-family housing start forecasts are used in numerous banking, government, public utility, and retail applications. Despite that, they have not been systematically examined for predictive accuracy. This article analyzes quarterly single-family housing start forecasts for Florida and its six largest metropolitan economies. The sample period covers 1985:1 through 1996:2 and includes a complete business cycle. In contrast to regional employment, the econometric housing activity forecasts do not fare well against univariate ARIMA and random walk benchmarks.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Fullerton, Thomas Jr. & Laaksonen, Mika M. & West, Carol T., 2001. "Regional multi-family housing start forecast accuracy," International Journal of Forecasting, Elsevier, vol. 17(2), pages 171-180.
- Thomas M. Fullerton Jr. & Carol T. West, 2004.
"Regional Econometric Housing Start Forecast Accuracy in Florida,"
- Fullerton, Jr., Thomas M. & Taylor West, Carol A., 1998. "Regional Econometric Housing Start Forecast Accuracy in Florida," The Review of Regional Studies, Southern Regional Science Association, vol. 28(3), pages 15-42, Winter.
- Carol Taylor West & Thomas M. Fullerton Jr., 2004. "Assessing the Historical Accuracy of Regional Economic Forecasts," Urban/Regional 0404009, EconWPA.
- Stephen K. McNees, 1992. "How large are economic forecast errors?," New England Economic Review, Federal Reserve Bank of Boston, issue Jul, pages 25-42.
- Mizrach, Bruce, 1992. "The distribution of the Theil U-statistic in bivariate normal populations," Economics Letters, Elsevier, vol. 38(2), pages 163-167, February.
- Thomas M Fullerton Jr, 2004.
"Specification of a Borderplex Econometric Forecasting Model,"
- Thomas M. Fullerton JR., 2001. "Specification of a Borderplex Econometric Forecasting Model," International Regional Science Review, SAGE Publishing, vol. 24(2), pages 245-260, April.
- Lester Hunt & Martin Snell, 1997. "Comparative Properties of Local Econometric Models in the UK," Regional Studies, Taylor & Francis Journals, vol. 31(9), pages 891-901.
- David G. Lenze, 2000. "Forecast Accuracy and Efficiency: An Evaluation of Ex Ante Substate Long-Term Forecasts," International Regional Science Review, SAGE Publishing, vol. 23(2), pages 201-226, April.
- Topel, Robert H & Rosen, Sherwin, 1988. "Housing Investment in the United States," Journal of Political Economy, University of Chicago Press, vol. 96(4), pages 718-740, August.
- Ashley, Richard, 1988. "On the relative worth of recent macroeconomic forecasts," International Journal of Forecasting, Elsevier, vol. 4(3), pages 363-376.
When requesting a correction, please mention this item's handle: RePEc:wpa:wuwpur:0404010. 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: (EconWPA)
If references are entirely missing, you can add them using this form.