Measuring Residential Real Estate Liquidity

Brian D. Kluger and Norman G. Miller

Real Estate Economics, 1990, vol. 18, issue 2, 145-159

Abstract: There are many factors, other than price alone, that may affect the liquidity of real estate. This study develops a liquidity measure based on the Cox proportional hazard technique, a statistical model widely used in the epidemiologic and social sciences. The odds ratio, along with an estimate of market value for a home, are used to construct a liquidity measure. This measure can extract from the data a rich statistical profile of the variables that affect liquidity.

Date: 1990
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