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Local House Price Indexes: 1982–1991

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  • Donald R. Haurin
  • Patric H. Hendershott
  • Dongwook Kim

Abstract

We begin with a description of three house price panel data sets for the period 1982 to 1991. Next, we estimate a model that assumes the three sources are derived from an underlying unobserved price series, and we construct composite indexes that report house prices for 135 locations. These series can be used either as explanatory variables in studies of household formation, housing demand, and migration or to test models of the determinants of spatial and intertemporal variations in house prices. Finally, we construct regional series (based, alternatively, on census and Salomon Brothers regions) and two national aggregates and describe their movements. Our series are compared to other local, regional, and national series.

Suggested Citation

  • Donald R. Haurin & Patric H. Hendershott & Dongwook Kim, 1991. "Local House Price Indexes: 1982–1991," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 19(3), pages 451-472, September.
    • Handle: RePEc:bla:reesec:v:19:y:1991:i:3:p:451-472
    DOI: 10.1111/1540-6229.00562
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    1. Donald R. Haurin, 1980. "The Regional Distribution of Population, Migration, and Climate," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 95(2), pages 293-308.
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    4. H. Leroy Gill & Donald R. Haurin, 1991. "User Cost and the Demand for Housing Attributes," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 19(3), pages 383-396, September.
    5. Gabriel, Stuart A. & Shack-Marquez, Janice & Wascher, William L., 1993. "Does migration arbitrage regional labor market differentials?," Regional Science and Urban Economics, Elsevier, vol. 23(2), pages 211-233, April.
    6. Jesse M. Abraham & William S. Schauman, 1991. "New Evidence on Home Prices from Freddie Mac Repeat Sales," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 19(3), pages 333-352, September.
    7. Joe Peek & James A. Wilcox, 1991. "The Measurement and Determinants of Single‐Family House Prices," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 19(3), pages 353-382, September.
    8. Ozanne, Larry & Thibodeau, Thomas, 1983. "Explaining metropolitan housing price differences," Journal of Urban Economics, Elsevier, vol. 13(1), pages 51-66, January.
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    10. Patric H. Hendershott & Thomas G. Thibodeau, 1990. "The Relationship between Median and Constant Quality House Prices: Implications for Setting FHA Loan Limits," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 18(3), pages 323-334, September.
    11. Winkler, Anne E., 1992. "The impact of housing costs on the living arrangements of single mothers," Journal of Urban Economics, Elsevier, vol. 32(3), pages 388-403, November.
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    1. Zan Yang & Ying Fan & Liqing Zhao, 2018. "A Reexamination of Housing Price and Household Consumption in China: The Dual Role of Housing Consumption and Housing Investment," The Journal of Real Estate Finance and Economics, Springer, vol. 56(3), pages 472-499, April.
    2. Rodger Barros Antunes Campos & Gustavo Pereira Serra, 2020. "The decision on unconstitutionality of earmarking and its impact on the housing access: Evidence from São Paulo State, Brazil," Regional Science Policy & Practice, Wiley Blackwell, vol. 12(1), pages 25-42, February.
    3. Thomas M. Springer & Neil G. Waller, 1993. "Lender Forbearance: Evidence from Mortgage Delinquency Patterns," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 21(1), pages 27-46, March.
    4. Randal Verbrugge, 2008. "The Puzzling Divergence Of Rents And User Costs, 1980–2004," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 54(4), pages 671-699, December.
    5. Garner, Thesia I. & Verbrugge, Randal, 2009. "Reconciling user costs and rental equivalence: Evidence from the US consumer expenditure survey," Journal of Housing Economics, Elsevier, vol. 18(3), pages 172-192, September.
    6. Stanley McGreal & Paloma Taltavull de La Paz, 2013. "Implicit House Prices: Variation over Time and Space in Spain," Urban Studies, Urban Studies Journal Limited, vol. 50(10), pages 2024-2043, August.
    7. Gary Painter, 1999. "Low-Income Housing Assistance: Its Impact on Labor Force and Housing Program Participation," Working Paper 8667, USC Lusk Center for Real Estate.

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