Seasonal cycles in a model of the housing market

Cemil Selcuk

Economics Letters, 2014, vol. 123, issue 2, 195-199

Abstract: The US housing market exhibits seasonal boom and bust cycles where prices and the speed of trade (turnover rate) rise in summers and fall in winters. We present a search model that analytically generates the observed cycles. The proposed mechanism is based on swings in market thickness rather than market tightness, the leading explanation in the literature.

Keywords: Housing; Search and matching; Thin and thick markets; Seasonality (search for similar items in EconPapers)
JEL-codes: D39 D49 D83 (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:123:y:2014:i:2:p:195-199

DOI: 10.1016/j.econlet.2014.02.007

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