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Conference Paper: Housing price dispersion: An empirical investigation

TitleHousing price dispersion: An empirical investigation
Authors
Leung, CKYLeong, YCFWong, SK
KeywordsMacroeconomic factor
Price dispersion
Search models
Time aggregation
Issue Date2006
PublisherSpringer New York LLC. The Journal's web site is located at http://springerlink.metapress.com/openurl.asp?genre=journal&issn=0895-5638
Citation
Journal Of Real Estate Finance And Economics, 2006, v. 32 n. 3, p. 357-385 How to Cite?
DOI: http://dx.doi.org/10.1007/s11146-006-6806-7
AbstractThe efficiency of a market is challenged when price dispersion occurs. Previous studies focused on non-durable consumption goods. This study extends the analysis to the case of residential property, whose transactions are dominated by a second-hand market with many potential buyers and sellers. We demonstrate that housing price dispersion exists, and the degree of dispersion changes systematically with some macroeconomic factors, though the second and the third moment of the price distribution react differently to the macroeconomic variables. Some directions for future research are suggested. © Springer Science + Business Media, Inc. 2006.
Persistent Identifierhttp://hdl.handle.net/10722/81957
ISSN
0895-5638
2023 Impact Factor: 1.7
2023 SCImago Journal Rankings: 0.580
ISI Accession Number ID
WOS:000236372000009
References
References in Scopus

 

DC FieldValueLanguage
dc.contributor.authorLeung, CKYen_HK
dc.contributor.authorLeong, YCFen_HK
dc.contributor.authorWong, SKen_HK
dc.date.accessioned2010-09-06T08:23:51Z-
dc.date.available2010-09-06T08:23:51Z-
dc.date.issued2006en_HK
dc.identifier.citationJournal Of Real Estate Finance And Economics, 2006, v. 32 n. 3, p. 357-385en_HK
dc.identifier.issn0895-5638en_HK
dc.identifier.urihttp://hdl.handle.net/10722/81957-
dc.description.abstractThe efficiency of a market is challenged when price dispersion occurs. Previous studies focused on non-durable consumption goods. This study extends the analysis to the case of residential property, whose transactions are dominated by a second-hand market with many potential buyers and sellers. We demonstrate that housing price dispersion exists, and the degree of dispersion changes systematically with some macroeconomic factors, though the second and the third moment of the price distribution react differently to the macroeconomic variables. Some directions for future research are suggested. © Springer Science + Business Media, Inc. 2006.en_HK
dc.languageengen_HK
dc.publisherSpringer New York LLC. The Journal's web site is located at http://springerlink.metapress.com/openurl.asp?genre=journal&issn=0895-5638en_HK
dc.relation.ispartofJournal of Real Estate Finance and Economicsen_HK
dc.subjectMacroeconomic factoren_HK
dc.subjectPrice dispersionen_HK
dc.subjectSearch modelsen_HK
dc.subjectTime aggregationen_HK
dc.titleHousing price dispersion: An empirical investigationen_HK
dc.typeConference_Paperen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0895-5638&volume=32&issue=3&spage=357&epage=385&date=2006&atitle=Housing+Price+Dispersion:+An+Empirical+Investigationen_HK
dc.identifier.emailWong, SK:kelvin.wong@hku.hken_HK
dc.identifier.authorityWong, SK=rp01028en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1007/s11146-006-6806-7en_HK
dc.identifier.scopuseid_2-s2.0-33645293714en_HK
dc.identifier.hkuros118627en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-33645293714&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume32en_HK
dc.identifier.issue3en_HK
dc.identifier.spage357en_HK
dc.identifier.epage385en_HK
dc.identifier.isiWOS:000236372000009-
dc.publisher.placeUnited Statesen_HK
dc.identifier.scopusauthoridLeung, CKY=35728734600en_HK
dc.identifier.scopusauthoridLeong, YCF=12795210600en_HK
dc.identifier.scopusauthoridWong, SK=7404591021en_HK
dc.identifier.citeulike567719-
dc.identifier.issnl0895-5638-

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