Effect of Trading Frictions on the House Price

Gaetano Lisi

Chapter Chapter 3 in Search and Matching in the Housing and Labour Markets, 2025, pp 25-32 from Springer

Abstract: Abstract Starting from the model developed in Chapter 2 , this chapter shows the quantitative effect of search and matching frictions on the house prices estimate. After identifying a frictionless housing market and using two items of housing market data (namely, the expected time-on-the-market, and the average number of trades), the chapter estimates the matching opportunities for both buyers and sellers that, in turn, crucially affect the housing prices. Eventually, a comparison of house prices between a frictionless housing market and a market with trading frictions is made.

Date: 2025
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DOI: 10.1007/978-3-031-87813-8_3

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