Local House Price Comovements

Marcel Fischer, Roland Füss, Simon Stehle

Research output: Contribution to conferencePosterResearchpeer-review


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.
Original languageEnglish
Publication date2020
Publication statusPublished - 2020
EventThe 80th Annual Meeting of American Finance Association. AFA 2020 - San Diego, United States
Duration: 3 Jan 20205 Jan 2020
Conference number: 80


ConferenceThe 80th Annual Meeting of American Finance Association. AFA 2020
Country/TerritoryUnited States
CitySan Diego
Internet address


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

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