Local House Price Comovements

Marcel Fischer, Roland Füss, Simon Stehle

Publikation: Working paperForskning

Abstract

We study the micro-level evolution of residential house prices using data on repeat sales on Manhattan Island from 2004 to 2015. We document that excess price comovement is a highly local and persistent phenomenon. The strength of such excess comovements vanishes with both spatial and temporal distance. Local underperformance is more persistent than local overperformance - particularly when house prices on aggregate level increase.
OriginalsprogEngelsk
UdgiverSSRN: Social Science Research Network
Antal sider40
DOI
StatusUdgivet - 29 maj 2019
NavnSOF Working Paper
Nummer2019/06

Emneord

  • Housing market
  • Price comovements
  • Urban economics
  • Real estate
  • Repeat sales

Citationsformater