Local House Price Dynamics: New Indices and Stylized Facts
Local House Price Dynamics: New Indices and Stylized Facts
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DOI：
10.1111/1540-6229.12233
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发表时间：
2019-06-01
影响因子：
2.2
通讯作者：
Larson, William
中科院分区：
文献类型：
--
作者：
Bogin, Alexander;Doerner, William;Larson, William
我们推出了第一个公开的美国各县、邮政编码和人口普查区的恒定质量房价指数数据集，每年一次，历时 40 年。 1990 年至 2015 年间，大城市内的房价梯度陡峭，记录了几十年来郊区相对需求不断增加的情况发生了逆转。大城市中心附近的实际房价更有可能不稳定。平均而言，邮政编码级别房价升值的城市内差异约为城市间差异的一半，尽管这一比例因时间段和城市规模而异。
We introduce the first publicly available data set of constant-quality house price indices for counties, ZIP codes and census tracts in the United States, at an annual frequency, over a 40-year period. Between 1990 and 2015, house price gradients within large cities steepen, documenting a reversal of decades of increasing relative desirability of suburban locations. Real house prices are more likely to be nonstationary near the centers of large cities. Within-city differences in house price appreciation at the ZIP code level are, on average, about half of between-city differences, though this ratio varies depending on the time period and city size.