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Repeat Assessed Values Model for Housing Price Index

Repeat Assessed Values Model for Housing Price Index AbstractThis study proposes an innovative methodology, named Repeat Appraised Price Model (RAV), useful for determining the price index numbers for real estate markets and the corresponding index numbers of hedonic prices of main real estate characteristics in the case of a lack of data. The methodological approach proposed in this paper aims to appraise the time series of price index numbers. It integrates the principles of the method of repeat sales with the peculiarities of the Hedonic Price Method, overcoming the problem of an almost total absence of repeat sales for the same property in a given time range; on the other hand, the technique aims to overcome the limitation of the repeat sales technique concerning the inability to take into account the characteristics of individual properties. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Real Estate Management and Valuation de Gruyter

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Publisher
de Gruyter
Copyright
© 2017 Manuela Carini et al., published by De Gruyter Open
ISSN
1733-2478
eISSN
2300-5289
DOI
10.1515/remav-2017-0027
Publisher site
See Article on Publisher Site

Abstract

AbstractThis study proposes an innovative methodology, named Repeat Appraised Price Model (RAV), useful for determining the price index numbers for real estate markets and the corresponding index numbers of hedonic prices of main real estate characteristics in the case of a lack of data. The methodological approach proposed in this paper aims to appraise the time series of price index numbers. It integrates the principles of the method of repeat sales with the peculiarities of the Hedonic Price Method, overcoming the problem of an almost total absence of repeat sales for the same property in a given time range; on the other hand, the technique aims to overcome the limitation of the repeat sales technique concerning the inability to take into account the characteristics of individual properties.

Journal

Real Estate Management and Valuationde Gruyter

Published: Dec 1, 2017

References