Integrating Real Estate Market Conditions into Home Price Forecasting Systems

Norman Miller and Michael Sklarz

Journal of Housing Research, 2012, vol. 21, issue 2, 183-213

Abstract: Market condition indicators are reviewed here as candidates for improved short-term home price forecasting. Medium- to longer-term housing price primary drivers are quite well known, such as employment, income, supply constraints, and interest rates. Shorter-term forecasts with improved accuracy on turning points present a greater challenge and require the use of market condition indicators. Here we demonstrate the power of a variety of market-based variables that might be considered in any future research on short-term home price forecasting. Such research may help us better understand potential housing bubbles and turning points in market prices. As data continues to improve, we can perform such analysis across much of the United States on a near-real time basis in smaller and smaller sub-markets.

Date: 2012
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/10835547.2012.12092059 (text/html)
Access to full text is restricted to subscribers.

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:taf:rjrhxx:v:21:y:2012:i:2:p:183-213

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/rjrh20

DOI: 10.1080/10835547.2012.12092059

Access Statistics for this article

Journal of Housing Research is currently edited by Kimberly Goodwin

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