| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 962709 | Journal of Housing Economics | 2013 | 10 Pages |
Abstract
⺠We model how the ratio of list prices to sale prices varies over the housing cycle. ⺠We argue that the standard housing search model is not applicable during housing booms. ⺠We expand search models to allow for unexpected price changes and changes in sellers' behavior. ⺠We find sellers change their search process to an auction-like behavior during housing booms. ⺠We find evidence that during busts sellers' list prices are sticky.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Donald Haurin, Stanley McGreal, Alastair Adair, Louise Brown, James R. Webb,