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作者

来源

REAL ESTATE ECONOMICS,Vol.47,Issue2,P.365-398

语言

英文

关键字

SALES; DETERMINANTS; LOCATION; TESTS

作者单位

[Bogin, Alexander; Doerner, William; Larson, William] Fed Housing Finance Agcy, Off Policy Anal & Res, 400 7th St SW, Washington, DC 20024 USA. Bogin, A (reprint author), Fed Housing Finance Agcy, Off Policy Anal & Res, 400 7th St SW, Washington, DC 20024 USA. E-Mail: alexander.bogin@fhfa.gov; william.doerner@fhfa.gov; william.larson@fhfa.gov

摘要

We introduce the first publicly available data set of constant-quality house price indices for counties, ZIP codes and census tracts in the United States, at an annual frequency, over a 40-year period. Between 1990 and 2015, house price gradients within large cities steepen, documenting a reversal of decades of increasing relative desirability of suburban locations. Real house prices are more likely to be nonstationary near the centers of large cities. Within-city differences in house price appreciation at the ZIP code level are, on average, about half of between-city differences, though this ratio varies depending on the time period and city size.