Housing prices and transaction volume
Yavuz Arslan,
H. Cagri Akkoyun and
Birol Kanık
MPRA Paper from University Library of Munich, Germany
Abstract:
We use annual, quarterly and monthly data from the US to show that the correlation between housing prices and transaction volume (number of existing houses sold) differs across different frequencies. While the correlation is high at low frequencies it declines to the levels close to zero at high frequencies. Granger causality tests for different frequencies show the way of causality in housing market goes from transactions to housing prices. Our findings provide a litmus test for the existing theories that are proposed to explain the positive correlation between housing prices and transaction volume.
Keywords: Housing prices; Transaction volume (search for similar items in EconPapers)
JEL-codes: C1 E3 G1 (search for similar items in EconPapers)
Date: 2011-10-01, Revised 2012-03-01
New Economics Papers: this item is included in nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations:
Published in The Central Bank of the Republic of Turkey Working Paper Series 12.11(2012): pp. 1-17
Downloads: (external link)
https://mpra.ub.uni-muenchen.de/37343/1/MPRA_paper_37343.pdf original version (application/pdf)
Related works:
Journal Article: Housing prices and transaction volume (2013) 
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:pra:mprapa:37343
Access Statistics for this paper
More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().