| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP15875 |
| 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 |
| URL | https://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. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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