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Local House Price Indexes: 1982–1991
Author(s) -
Haurin Donald R.,
Hendershott Patric H.,
Kim Dongwook
Publication year - 1991
Publication title -
real estate economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.064
H-Index - 61
eISSN - 1540-6229
pISSN - 1080-8620
DOI - 10.1111/1540-6229.00562
Subject(s) - house price , economics , econometrics , construct (python library) , series (stratigraphy) , census , panel data , time series , statistics , mathematics , computer science , population , sociology , demography , paleontology , biology , programming language
We begin with a description of three house price panel data sets for the period 1982 to 1991. Next, we estimate a model that assumes the three sources are derived from an underlying unobserved price series, and we construct composite indexes that report house prices for 135 locations. These series can be used either as explanatory variables in studies of household formation, housing demand, and migration or to test models of the determinants of spatial and intertemporal variations in house prices. Finally, we construct regional series (based, alternatively, on census and Salomon Brothers regions) and two national aggregates and describe their movements. Our series are compared to other local, regional, and national series.