G2TT
来源类型Discussion paper
规范类型论文
来源IDDP15875
DP15875 Search and Predictability of Prices in the Housing Market
Stig Møller; Thomas Pedersen; Erik Christian Montes Schütte; Henry Allan Timmermann
发表日期2021-03-03
出版年2021
语种英语
摘要We develop a new housing seach index (HSI) extracted from online search activity on a limited set of keywords related to the house buying process. We show that HSI has strong predictive power for subsequent changes in house prices, both in-sample and out-of-sample, and after controlling for the effect of commonly used predictors. Compared to the stock market, online search has much stronger predictive power over house prices and its effect also lasts longer. Variation in housing search is a particularly strong predictor of subsequent price changes in markets with inelastic housing supply and high speculation.
主题Financial Economics
关键词Internet search Housing markets Housing demand Forecasting Inelastic housing supply
URLhttps://cepr.org/publications/dp15875
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/544867
推荐引用方式
GB/T 7714
Stig Møller,Thomas Pedersen,Erik Christian Montes Schütte,et al. DP15875 Search and Predictability of Prices in the Housing Market. 2021.
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