An Investigation of Buyer Search in the Residential Real Estate Market under Different Market Conditions

Edward A. Baryla (), Leonard V. Zumpano () and Harold W. Elder ()
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Edward A. Baryla: East Tennessee State University Johnson City, TN 37614, http://www.etsu.edu/
Leonard V. Zumpano: University of Alabama Tuscaloosa, AL 35487, http://www.cba.ua.edu/
Harold W. Elder: University of Alabama Tuscaloosa, AL 35487, http://www.cba.ua.edu/

Journal of Real Estate Research, 2000, vol. 20, issue 1, pages 75-91

Abstract: The purpose of this research is to examine buyer search under different market conditions. We conduct a survival regression analysis of survey data generated by the National Association of Realtors for 1988, 1991 and 1993. We find, in all instances, that economic conditions are the dominant factor influencing search duration. Some evidence does indicate, however, that search is influenced by interest rates. Additionally, the evidence suggests that the probability of finding a home increases for broker-assisted search, while this is not the case for self-conducted search.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 2000
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