Intercity Differences in Home Price Appreciation

Christopher A. Manning ()
Additional contact information
Christopher A. Manning: School of Business Administration Loyola Marymount University Los Angeles, California 90045, http://www.lmu.edu/colleges/cba/

Journal of Real Estate Research, 1986, vol. 1, issue 1, 45-66

Abstract: The rate of home price appreciation varies substantially among cities. Yet, no prior research on the subject has been uncovered. This paper develops and tests an equilibrium model seeking to explain this interurban variation in owner-occupied home price appreciation. Intercity changes in housing demand, based upon homeowner "quality of life" equilibrium, is represented by several "non-monetary income" determinants in addition to several monetary "real income" determinants. Changes in the supply of homes was found to be primarily dependent upon interurban variation in cost related factors. Empirical tests with a reduced form equation using aggregated 1970 and 1980 data on 92 SMSAs suggest explanation for approximately 70% of this intercity variation in home price appreciation.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 1986
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

Downloads: (external link)
http://pages.jh.edu/jrer/papers/pdf/past/vol01n01/v01p045.pdf Full text (application/pdf)

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:jre:issued:v:1:n:1:1986:p:45-66

Ordering information: This journal article can be ordered from
Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
http://pages.jh.edu/jrer/about/get.htm

Access Statistics for this article

Journal of Real Estate Research is currently edited by Dr. Ko Wang

More articles in Journal of Real Estate Research from American Real Estate Society American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323.
Bibliographic data for series maintained by JRER Graduate Assistant/Webmaster ().