房价季节性、市场活动和12月折扣

IF 2 3区经济学 Q2 BUSINESS, FINANCE

Real Estate Economics Pub Date : 2023-11-27 DOI:10.1111/1540-6229.12463

Erling Røed Larsen

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引用次数: 0

摘要

在挪威，12月的房价往往会下跌。这种规律在各个地区和时间都是持续存在的。我利用一个具有高时间粒度的交易数据集来记录和估计12月折扣的大小。我使用享乐模型控制组合效应，并通过使用重复销售和涉及要价和评估值来控制未观察到的异质性。通过细分子市场，我寻找价格季节性的决定因素。有证据表明，12月效应与每个单位的上市时间和每个子市场的交易量有关。

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House price seasonality, market activity, and the December discount

In Norway, house prices tend to drop in December. This regularity is persistent across regions and over time. I exploit a transaction data set with high temporal granularity to document and estimate the size of the December discount. I control for a composition effect using a hedonic model and I control for unobserved heterogeneity by using repeat sales and involving ask prices and appraisal values. By segmenting into submarkets, I search for determinants of price seasonality. The evidence suggests that the December effect is linked to time-on-market for each unit and transaction volumes within each submarkets.

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来源期刊

Real Estate Economics Multiple-

CiteScore

4.00

自引率

13.60%

发文量

期刊介绍： As the official journal of the American Real Estate and Urban Economics Association, Real Estate Economics is the premier journal on real estate topics. Since 1973, Real Estate Economics has been facilitating communication among academic researchers and industry professionals and improving the analysis of real estate decisions. Articles span a wide range of issues, from tax rules to brokers" commissions to corporate real estate including housing and urban economics, and the financial economics of real estate development and investment.