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| Content Provider | Springer Nature Link |
|---|---|
| Author | Dubin, Robin A. |
| Copyright Year | 1998 |
| Abstract | It is often necessary to accurately predict the price of a house between sales. One method of predicting house values is to use data on the characteristics of the area's housing stock to estimate a hedonic regression, using ordinary least squares (OLS) as the statistical technique. The coefficients of this regression are then used to produce the predicted house prices. However, this procedure ignores a potentially large source of information regarding house prices—the correlations existing between the prices of neighboring houses. The purpose of this article is to show how these correlations can be incorporated when estimating regression coefficients and when predicting house prices. The practical difficulties inherent in using a technique called kriging to predict house prices are discussed. The article concludes with an example of the procedure using multiple listings data from Baltimore. |
| Starting Page | 35 |
| Ending Page | 59 |
| Page Count | 25 |
| File Format | |
| ISSN | 08955638 |
| Journal | The Journal of Real Estate Finance and Economics |
| Volume Number | 17 |
| Issue Number | 1 |
| e-ISSN | 1573045X |
| Language | English |
| Publisher | Kluwer Academic Publishers |
| Publisher Date | 1998-01-01 |
| Publisher Place | Boston |
| Access Restriction | One Nation One Subscription (ONOS) |
| Subject Keyword | Regional Science Finance /Banking |
| Content Type | Text |
| Resource Type | Article |
| Subject | Finance Urban Studies Accounting Economics and Econometrics |
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