Information technology in the property market

Yong Suk Lee and Yuya Sasaki

Information Economics and Policy, 2018, vol. 44, issue C, 1-7

Abstract: Information technology is increasingly being utilized in the property market. This paper examines how sensitive house transaction prices are to online price estimates using data collected from Zillow. We find that online property price estimates strongly predict transaction prices even when observable and unobservable house and neighborhood characteristics are controlled for. In addition, we find evidence that suggests that online price estimates may have a direct impact on transaction prices.

Keywords: Information technology; Online price estimates; House price (search for similar items in EconPapers)
JEL-codes: L86 R30 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0167624517301646
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:iepoli:v:44:y:2018:i:c:p:1-7

DOI: 10.1016/j.infoecopol.2018.07.002

Access Statistics for this article

Information Economics and Policy is currently edited by D. Waterman

More articles in Information Economics and Policy from Elsevier
Bibliographic data for series maintained by Catherine Liu ().