A Low-Cost Methodology for Correcting the Distressed Sales Bias in a Downward Spiraling Housing Market

Craig A. Depken, Harris Hollans and Steve Swidler

Journal of Real Estate Research, 2015, vol. 37, issue 1, 151-172

Abstract: We examine the impact of distressed sales on single-family house prices during a housing market collapse. The innovation here is a methodology to create a proxy for distressed sales when such sales are not identified in the data but are commonplace in the market. We apply our methodology to publicly available data from Las Vegas, Nevada. We find that, during the market collapse in that city, the price impact from REO transactions was greater than other distressed sales, but the difference narrowed over time. Moreover, not identifying distressed sales lowers the measured price impact of REO sales.

Date: 2015
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/10835547.2015.12091408 (text/html)
Access to full text is restricted to subscribers.

Related works:
Journal Article: A Low Cost Methodology for Correcting the Distressed Sales Bias in a Downward Spiraling Housing Market (2015)
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:taf:rjerxx:v:37:y:2015:i:1:p:151-172

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/rjer20

DOI: 10.1080/10835547.2015.12091408

Access Statistics for this article

Journal of Real Estate Research is currently edited by William Hardin and Michael Seiler

More articles in Journal of Real Estate Research from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().