The reliability of self-reported home values in a developing country context

Marco Gonzalez-Navarro and Climent Quintana-Domeque

Journal of Housing Economics, 2009, vol. 18, issue 4, 311-324

Abstract: This paper provides an analysis, in the context of a developing country, of the reliability of homeowners' estimates of the value of their houses, as obtained through a household survey. We show that non-response to the home value question by the owner is uncorrelated with the appraised value of the house and other demographic characteristics of the respondent. We also document that homeowners with long tenure largely overestimate the value of their home. Moreover, both the bias and the lack of precision in homeowners' estimates are correlated with tenure, but not with socioeconomic characteristics. However, we also show that self-reported home values from short-tenure homeowners can be used to obtain unbiased and precise estimates of the average house value at the census tract level.

Keywords: Bias; Inaccuracy; Housing; prices; Owners'; estimates; Appraised; values (search for similar items in EconPapers)
Date: 2009
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (18)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1051-1377(09)00041-2
Full text for ScienceDirect subscribers only

Related works:
Working Paper: The reliability of self-reported home values in a developing country context (2008)
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:18:y:2009:i:4:p:311-324

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 ().