IDEAS home Printed from https://ideas.repec.org/a/jre/issued/v34n12012p73-98.html
   My bibliography  Save this article

Building Codes, Wind Contours, and House Prices

Author

Listed:
  • Randy E. Dumm

    (Florida State University)

  • G. Stacy Sirmans

    (Florida State University)

  • Greg T. Smersh

    (University of South Florida)

Abstract

A hedonic pricing model estimates the effect on house prices of the stricter 2002 Florida Building Code for three geographical areas with varying degrees of risk exposure in the Jacksonville, Florida area. Results show that houses built under the new, stricter code sold for an average premium of 12.33 percent relative to houses built under the less-strict code. Results also show that new-code properties in the riskiest Windborne Debris Region sold for about 4.7 percent more than houses built under the older, less strict code. The interior zones show that houses built under the stricter code sold for greater premiums. The post-catastrophe variables show that the two consecutive seasons of devastating hurricanes in 2004 and 2005 had an effect on buyer behavior and generally increased the building code premium.

Suggested Citation

  • Randy E. Dumm & G. Stacy Sirmans & Greg T. Smersh, 2012. "Building Codes, Wind Contours, and House Prices," Journal of Real Estate Research, American Real Estate Society, vol. 34(1), pages 73-98.
    • Handle: RePEc:jre:issued:v:34:n:1:2012:p:73-98
    as

    Download full text from publisher

    File URL: http://pages.jh.edu/jrer/papers/pdf/past/vol34n01/04.73_98.pdf
    File Function: Full text
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Molloy, Raven, 2020. "The effect of housing supply regulation on housing affordability: A review," Regional Science and Urban Economics, Elsevier, vol. 80(C).
    2. Yuelong Wang & Yongze Yu & Yaqin Su, 2018. "Does the tender, auction and listing system in land promote higher housing prices in China?," Housing Studies, Taylor & Francis Journals, vol. 33(4), pages 613-634, May.
    3. Justin Contat & William M. Doerner & Robert N. Renner & Malcolm J. Rogers, 2024. "Measuring Price Effects from Disasters using Public Data: A Case Study of Hurricane Ian," FHFA Staff Working Papers 24-04, Federal Housing Finance Agency.
    4. Clarke, Dylan R. & Gold, Daniel E., 2024. "The effects of residential landlord–tenant laws: New evidence from Canadian reforms using census data," Journal of Urban Economics, Elsevier, vol. 140(C).

    More about this item

    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:jre:issued:v:34:n:1:2012:p:73-98. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: JRER Graduate Assistant/Webmaster (email available below). General contact details of provider: http://www.aresnet.org/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.