A Basic Search and Matching Model of the Housing Market

Gaetano Lisi

Chapter Chapter 2 in Search and Matching in the Housing and Labour Markets, 2025, pp 15-24 from Springer

Abstract: Abstract Housing markets are “search markets” and, thus, some key insights of the search and matching model described in Chapter 1 can be used for analysing the homeownership and rental markets. Indeed, this chapter clearly shows that a basic housing market search and matching model can explain the main empirical facts of housing markets, viz.: the trade-off between housing price and time-on-the-market, the positive correlation between housing price and trading volume (the number of contracts traded during a given period), and the phenomenon known as “housing price dispersion”.

Date: 2025
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DOI: 10.1007/978-3-031-87813-8_2

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