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Determinants of Buyer Search in a Housing Market
Author(s) -
Anglin Paul M.
Publication year - 1997
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 - 10.1111/1540-6229.00728
Subject(s) - newspaper , duration (music) , real estate , agency (philosophy) , quality (philosophy) , simple (philosophy) , economics , residential real estate , econometrics , actuarial science , microeconomics , marketing , business , advertising , finance , sociology , art , social science , philosophy , literature , epistemology
Using data collected from specially‐designed questionnaires, the duration of search by a house buyer is estimated. Duration is measured in two ways: in terms of time and in terms of the number of houses seen. To explain this data, several features must be added to a simple model when search models are applied to a housing market. Many of the statistically significant variables, such as prior information and the quality of information provided by a newspaper or a real estate agent, deal with the provision of information. The type of agency that employs the agent and the characteristics of the buyer have little effect.