Multiple Transactions Model: A Panel Data Approach to Estimate Housing Market Indices
In this paper, a multiple transactions model with a panel data approach is used to estimate housing market indices. The multiple transactions model keeps the same features of the repeat transactions index model (i.e., tracking the price appreciation of same houses). However, the multiple transaction...
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| Veröffentlicht in: | The Journal of real estate research 2007-07, Vol.29 (3), p.241-266 |
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| container_title | The Journal of real estate research |
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| creator | Gao, Andre H. Wang, George H.K. |
| description | In this paper, a multiple transactions model with a panel data approach is used to estimate housing market indices. The multiple transactions model keeps the same features of the repeat transactions index model (i.e., tracking the price appreciation of same houses). However, the multiple transactions model overcomes the shortcomings of the repeat transactions model by avoiding the correlated error terms. The indicative empirical analysis on a small sample of actual house transaction data demonstrates that the proposed multiple transactions model is superior to the repeat transactions model in terms of index variance, robustness of estimate, index revision volatility, and out-of-sample prediction of individual house prices. |
| doi_str_mv | 10.1080/10835547.2007.12091202 |
| format | Article |
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The indicative empirical analysis on a small sample of actual house transaction data demonstrates that the proposed multiple transactions model is superior to the repeat transactions model in terms of index variance, robustness of estimate, index revision volatility, and out-of-sample prediction of individual house prices.</description><identifier>ISSN: 0896-5803</identifier><identifier>EISSN: 2691-1175</identifier><identifier>DOI: 10.1080/10835547.2007.12091202</identifier><language>eng</language><publisher>Clemson: The American Real Estate Society</publisher><subject>Accounting methods ; Economic trends ; Empirical research ; Error rates ; Estimating techniques ; Houses ; Housing ; Housing market ; Housing price indices ; Housing prices ; Market prices ; Modeling ; Mortgage loans ; Panel data ; Price indexes ; Price levels ; Real estate ; Statistical variance ; Studies ; Tax assessments ; Trends ; Volatility</subject><ispartof>The Journal of real estate research, 2007-07, Vol.29 (3), p.241-266</ispartof><rights>Copyright American Real Estate Society Jul-Sep 2007</rights><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c397t-fac424ed6567c3944f9052c09600445d5c1026c3658d42a5ca602850320e33583</citedby><cites>FETCH-LOGICAL-c397t-fac424ed6567c3944f9052c09600445d5c1026c3658d42a5ca602850320e33583</cites></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktopdf>$$Uhttps://www.jstor.org/stable/pdf/24888207$$EPDF$$P50$$Gjstor$$H</linktopdf><linktohtml>$$Uhttps://www.jstor.org/stable/24888207$$EHTML$$P50$$Gjstor$$H</linktohtml><link.rule.ids>314,780,784,803,27924,27925,58017,58250</link.rule.ids></links><search><creatorcontrib>Gao, Andre H.</creatorcontrib><creatorcontrib>Wang, George H.K.</creatorcontrib><title>Multiple Transactions Model: A Panel Data Approach to Estimate Housing Market Indices</title><title>The Journal of real estate research</title><description>In this paper, a multiple transactions model with a panel data approach is used to estimate housing market indices. 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| ispartof | The Journal of real estate research, 2007-07, Vol.29 (3), p.241-266 |
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| language | eng |
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| source | JSTOR Archive Collection A-Z Listing |
| subjects | Accounting methods Economic trends Empirical research Error rates Estimating techniques Houses Housing Housing market Housing price indices Housing prices Market prices Modeling Mortgage loans Panel data Price indexes Price levels Real estate Statistical variance Studies Tax assessments Trends Volatility |
| title | Multiple Transactions Model: A Panel Data Approach to Estimate Housing Market Indices |
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