The Inventory–Sales Relationship in the Market for New Single‐Family Homes

Barry Falk and Bong‐Soo Lee

Real Estate Economics, 2004, vol. 32, issue 4, 645-672

Abstract: Time series methods are applied to study monthly inventory and sales dynamics in the U.S. market for new single‐family homes. The inventory measure used is the inventory of unsold, new single‐family homes, regardless of the stage of construction. Stylized facts regarding inventory, sales, the inventory–sales ratio and the implied series of speculative housing starts are produced. Implications for structural models of housing supply and the relationship of inventory investment in this market to economy‐wide inventory investment are considered. Finally, innovation accounting methods are applied to a structural VAR to study the responses of inventories and sales to permanent and transitory shocks.

Date: 2004
References: View complete reference list from CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
https://doi.org/10.1111/j.1080-8620.2004.00106.x

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:bla:reesec:v:32:y:2004:i:4:p:645-672

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=1080-8620

Access Statistics for this article

Real Estate Economics is currently edited by Crocker Liu, N. Edward Coulson and Walter Torous

More articles in Real Estate Economics from American Real Estate and Urban Economics Association Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().