Determinants of house price dynamics. What can we learn from search engine data?

Oestmann Marco () and Lars Bennöhr
Additional contact information
Oestmann Marco: Helmut Schmidt University Hamburg, Department of Economics, Holstenhofweg 85, D-22043 Hamburg

Review of Economics, 2015, vol. 66, issue 1, 99-127

Abstract: There is a broad literature on determinants of house price dynamics, which received increasing attention in the aftermath of the subprime crisis. Additional to macroeconomic standard variables, there might be other hard to measure or even unobservable factors influencing real estate prices. Using quarterly data, we try to increase the informational input of conventional models and capture such effects by including Google search engine query information into a set of standard fundamental variables explaining house prices. We use the house price index (HPI) published by Eurostat to perform fixed-effects regressions for a panel of 14 EU-countries comprising the years 2005-2013. We find that Google data as a single aggregate measure plays a prominent role in explaining house price developments.

Keywords: Google Trends; House Price Index; Real Estate; Google Trends; House Price Index; Real Estate (search for similar items in EconPapers)
Date: 2015
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://doi.org/10.1515/roe-2015-0106 (text/html)
For access to full text, subscription to the journal or payment for the individual article is required.

Related works:
Working Paper: Determinants of house price dynamics. What can we learn from search engine data? (2014)
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:lus:reveco:v:66:y:2015:i:1:p:99-128

Ordering information: This journal article can be ordered from
https://www.degruyter.com/journal/key/roe/html

DOI: 10.1515/roe-2015-0106

Access Statistics for this article

Review of Economics is currently edited by Michael Berlemann

More articles in Review of Economics from De Gruyter
Bibliographic data for series maintained by Peter Golla ().