Type

Working Paper

Authors

Karl Whelan
Thomas Conefrey

Subjects

Economics

Topics
housing demand prices market prices house prices housing market supply and demand supply housing prices

Supply, Demand and Prices in the US Housing Market (2013)

Abstract The slowdown in the US economy in 2008, and in the housing market in particular, has been accompanied by a sharp fall in house prices and a glut of homes for sale on the market. While the idea thatthis overhang of dwellings for sale should place downward pressure on house prices is intuitive, little empirical work has been done in this area.This paper explicitly models the relationship between changes in house prices and various measures of housing supply. The results show that monthssupply of new homes places greater downward pressure on house prices that the months supply of existing homes. We build a small simulation model to examine the evolution of the housing market.
Collections Ireland -> University College Dublin -> Economics Working Papers & Policy Papers
Ireland -> University College Dublin -> School of Economics
Ireland -> University College Dublin -> College of Social Sciences and Law

Full list of authors on original publication

Karl Whelan, Thomas Conefrey

Experts in our system

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Karl Whelan
University College Dublin
Total Publications: 70