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Do consumers’ home buying attitudes explain the behaviour of US home sales?

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  • Hamid Baghestani

Abstract

This article asks whether consumers’ home buying attitudes explain the behaviour of home sales by focusing on two tranquil and two uncertain periods within 1978–2015. We utilize monthly data to formulate and estimate four augmented autoregressive models with the results indicating that improvements (deteriorations) in consumers’ home buying attitudes lead to higher (lower) home sales. This conclusion remains unchanged when controlling for economic and financial indicators often cited as determinants of home sales. Overall, our article has key implications for future studies aiming to forecast home sales using attitudinal measures.

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  • Hamid Baghestani, 2017. "Do consumers’ home buying attitudes explain the behaviour of US home sales?," Applied Economics Letters, Taylor & Francis Journals, vol. 24(11), pages 779-783, June.
    • Handle: RePEc:taf:apeclt:v:24:y:2017:i:11:p:779-783
    DOI: 10.1080/13504851.2016.1229401
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    Cited by:

    1. Oğuzhan Çepni & Rangan Gupta & Mark E. Wohar, 2020. "The role of real estate uncertainty in predicting US home sales growth: evidence from a quantiles-based Bayesian model averaging approach," Applied Economics, Taylor & Francis Journals, vol. 52(5), pages 528-536, January.
    2. Moro Matheus Fernando & Weise Andreas Dittmar & Bornia Antonio Cezar, 2020. "Model Hybrid for Sales Forecast for the Housing Market of São Paulo," Real Estate Management and Valuation, Sciendo, vol. 28(3), pages 45-64, September.
    3. Rangan Gupta & Chi Keung Marco Lau & Vasilios Plakandaras & Wing-Keung Wong, 2019. "The role of housing sentiment in forecasting U.S. home sales growth: evidence from a Bayesian compressed vector autoregressive model," Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 32(1), pages 2554-2567, January.
    4. Hamid Baghestani & Ajalavat Viriyavipart, 2019. "Do factors influencing consumer home-buying attitudes explain output growth?," Journal of Economic Studies, Emerald Group Publishing Limited, vol. 46(5), pages 1104-1115, August.
    5. Baghestani, Hamid, 2021. "Predicting growth in US durables spending using consumer durables-buying attitudes," Journal of Business Research, Elsevier, vol. 131(C), pages 327-336.
    6. Hamid Baghestani, 2017. "Do US consumer survey data help beat the random walk in forecasting mortgage rates?," Cogent Economics & Finance, Taylor & Francis Journals, vol. 5(1), pages 1343017-134, January.

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