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Changes in the distribution of house prices over time: Structural characteristics, neighborhood, or coefficients?

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  • McMillen, Daniel P.

Abstract

Quantile hedonic house price function estimates imply that appreciation rates were higher between 1995 and 2005 for high-priced homes in Chicago. Decompositions of temporal changes in the house price distribution suggest that the types of homes sold and their location do not account for the change in the price distribution. Rather, higher appreciation rates for high-priced homes are explained by differences in the quantile regression coefficients over time.

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  • McMillen, Daniel P., 2008. "Changes in the distribution of house prices over time: Structural characteristics, neighborhood, or coefficients?," Journal of Urban Economics, Elsevier, vol. 64(3), pages 573-589, November.
    • Handle: RePEc:eee:juecon:v:64:y:2008:i:3:p:573-589
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