Tag: submarkets
Using a Finite Mixture Model of Heterogeneous Households to Delineate Housing Submarkets
We use a finite mixture model to identify latent submarkets from household demographics that estimates a separate hedonic regression equation for each submarket. The method is a relatively robust empirical tool to extract...
Read MoreAn Iterative Approach to Minimizing Valuation Errors Using an Automated Comparable Sales Model
This paper describes a method for automating sales comparison valuations by choosing a small sample of comparable sales from a submarket of similar properties and adjusting their prices based on differences between sale and...
Read MoreUsing Quantile Regression in Hedonic Analysis to Reveal Submarket Competition
In this paper, we use quantile regression analysis to explore the role submarket competition plays in setting housing prices in those price ranges where different submarkets occupy homes of similar price. We find evidence of...
Read MoreHousehold Diversity and Market Segmentation within a Single Neighborhood
Housing hedonic studies typically assume that individuals or households are similar enough to aggregate into a single demand equation for analysis, usually relying on ordinary least squares (OLS) or some other single-line...
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