What is behind housing sentiment?

Ernest N. Biktimirov, Tatyana Sokolyk and Anteneh Ayanso

Finance Research Letters, 2024, vol. 60, issue C

Abstract: We utilize topic modeling to analyze the relation between housing media sentiment and house price changes in the United States. We uncover seven distinct topics related to housing market in articles published in the Wall Street Journal, New York Times, and USA Today during the 2000–2021 period. Not all topics show significant relation to house price movements. Sentiments of articles related to economic outlook and house construction are most significant in explaining future house price changes suggesting that news media discussions about economic fundamentals stand behind the link between news media sentiment and house price changes.

Keywords: House prices; Housing sentiment; Machine learning; Media sentiment; News analytics; Real estate prices; Textual analysis; Topic modeling (search for similar items in EconPapers)
JEL-codes: G12 G14 G17 R30 R31 (search for similar items in EconPapers)
Date: 2024
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:60:y:2024:i:c:s1544612323013387

DOI: 10.1016/j.frl.2023.104966

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