Price Causality between Adjacent Housing Markets within a Metropolitan Area: A Case Study

Ling He and Robert Winder

Journal of Real Estate Portfolio Management, 1999, vol. 5, issue 1, 47-58

Abstract: Executive Summary. Using quarterly housing price data, this study investigates the price relationships and the price causality between three adjacent housing markets in the Hampton Roads region in Virginia. The results of the cointegration tests indicate stable long-run equilibrium price relationships between the adjacent housing markets. The results of the Geweke causality tests further suggest a bidirectional price causality between two adjacent housing markets that share similarities in changes in per capita income and single-family building permits.

Date: 1999
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DOI: 10.1080/10835547.1999.12089566

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