Early effects of COVID-19 pandemic-related state policies on housing market activity in the United States

Barış Yörük

Journal of Housing Economics, 2022, vol. 57, issue C

Abstract: I use daily and weekly data from 100 metropolitan areas in 2020 to investigate the effects of state-level policies to combat the COVID-19 pandemic on various indicators of U.S. housing market activity. Measures of housing market activity include change in new listings, total inventory, newly pending sales, median list price, web traffic to for-sale homes, and average number of days to pending sale status. Using event study and difference-in-differences models, I find that the closure of non-essential businesses in certain states was associated with up to an 11-percentage point decrease in new home listings and a 3.5 percentage point decrease in total inventory relative to the same period in 2019. I also find that school closures may affect some outcomes.

Keywords: Covid-19; Housing market activity; State-level restrictive policies (search for similar items in EconPapers)
JEL-codes: I18 R31 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1051137722000304
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:jhouse:v:57:y:2022:i:c:s1051137722000304

DOI: 10.1016/j.jhe.2022.101857

Access Statistics for this article

Journal of Housing Economics is currently edited by H. O. Pollakowski

More articles in Journal of Housing Economics from Elsevier
Bibliographic data for series maintained by Catherine Liu ().