The Repeat Time-on-The-Market Index

Carrillo, Paul E.; Williams, Bruce A.

doi:10.2139/ssrn.2584558

SSRN Journal

2015

DOI: 10.2139/ssrn.2584558

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The Repeat Time-on-The-Market Index

Paul E. Carrillo

Bruce A. Williams

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Cited by 4 publications

(2 citation statements)

References 33 publications

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“…Carrillo and Williams (2015) find a similar share in their data, which come from a different data provider.9 A full set of summary statistics for our sample is shown in table A1 in the appendix.10 For example, the 2012 NAR Profile of Home Buyers and Sellers, which reports that 88% of home sales are broker assisted.Downloaded from http://www.mitpressjournals.org/doi/pdf/10.1162/REST_a_00634 by guest on 14 July 2021…”

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confidence: 90%

A More Timely House Price Index

Anenberg

Laufer

2016

SSRN Journal

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Using listings data, we construct a new repeat-sales house price index that describes house values at the contract date when the price is determined rather than the closing date when the property is transferred. We show that this difference in timing helps explain several puzzles about house prices, including their strong short-term serial correlation and their weak correlation with stock prices and macroeconomic news shocks. In addition, we show that a variant of our index that relies exclusively on listings data for recent transactions accurately reveals trends in house prices several months before existing price indexes like Case-Shiller become available.

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mentioning

confidence: 90%

A More Timely House Price Index

Anenberg

Laufer

2016

SSRN Journal

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“…Carrillo and Williams (2015) find a similar share in their data, which come from a different data provider.9 A full set of summary statistics for our sample is shown in table A1 in the appendix.10 For example, the 2012 NAR Profile of Home Buyers and Sellers, which reports that 88% of home sales are broker assisted.Downloaded from http://direct.mit.edu/rest/article-pdf/99/4/722/1616732/rest_a_00634.pdf by guest on 11 May 2021…”

mentioning

confidence: 90%

A More Timely House Price Index

Anenberg

Laufer

2017

The Review of Economics and Statistics

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The Decision to Move House and Aggregate Housing-Market Dynamics

Ngai

Sheedy

2020

Journal of the European Economic Association

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Using data on house sales and inventories, this paper shows that housing transactions are driven mainly by listings and less so by transaction speed, thus the decision to move house is key to understanding the housing market. The paper builds a model where moving house is essentially an investment in match quality, implying that moving depends on macroeconomic developments and housing-market conditions. The number of transactions has implications for welfare because each transaction reduces mismatch for homeowners. The quantitative importance of the decision to move house is shown in understanding the U.S. housing-market boom during 1995–2003. (JEL: D83, E22, R31)

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The Repeat Time-on-The-Market Index

Cited by 4 publications

References 33 publications

A More Timely House Price Index

A More Timely House Price Index

A More Timely House Price Index

The Decision to Move House and Aggregate Housing-Market Dynamics

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