| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 8965235 | Information Economics and Policy | 2018 | 7 Pages |
Abstract
Information technology is increasingly being utilized in the property market. This paper examines how sensitive house transaction prices are to online price estimates using data collected from Zillow. We find that online property price estimates strongly predict transaction prices even when observable and unobservable house and neighborhood characteristics are controlled for. In addition, we find evidence that suggests that online price estimates may have a direct impact on transaction prices.
Related Topics
Social Sciences and Humanities
Business, Management and Accounting
Management of Technology and Innovation
Authors
Yong Suk Lee, Yuya Sasaki,