The Short and the Long of It: Stock-Flow Matching in the US Housing Market

Lei Fang, Eric Smith and Zoe Xie

No 2022-15, FRB Atlanta Working Paper from Federal Reserve Bank of Atlanta

Abstract: This paper investigates the US housing market from just before the Great Recession onward (2006–19) and assesses the viability of stock-flow matching in generating the observed outcomes. The paper documents that the probability that a house sells declines sharply after listing for two weeks. Moreover, the probability and associated price of a fast sale recover from the housing slump sooner, faster, and more prominently than slower sales. The simulated stock-flow matching model can mimic not only sales, prices, listings, and time-on-market but also capture the distinctions in quick and slower trades, indicating the importance of stock-flow matching for understanding housing market dynamics.

Keywords: housing; stock-flow matching; trading dynamics; duration dependence (search for similar items in EconPapers)
JEL-codes: E30 R21 R31 (search for similar items in EconPapers)
Pages: 52
Date: 2022-10-20
New Economics Papers: this item is included in nep-ure
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Published in 2022

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Working Paper: The Short and the Long of It: Stock-Flow Matching in the US Housing Market (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedawp:95080

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DOI: 10.29338/wp2022-15

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