Accounting for Spatial Variation of Land Prices in Hedonic Imputation House Price Indices: a Semi-Parametric Approach

Age, Time, Depreciation and House Prices: A Hedonic Imputation Approach

Incorporating Geospatial Data into House Price Indexes: A Hedonic Imputation Approach with Splines

We estimate a hedonic model of the housing market that includes a spline surface defined on geospatial data (i.e., the longitudes and latitudes of individual dwellings). House price indexes are then obtained by imputing prices for individual dwellings from the hedonic model and then inserting them into the Fisher price index formula. Using data for Sydney, Australia we compare the performance o...

A Non–stationary Non-gaussian Hedonic Spatial Model for House Selling Prices a Non–stationary Non-gaussian Hedonic Spatial Model for House Selling Prices

This work proposes a hedonic random field model to describe house selling prices over the period 2000– 2005 in Cedar Falls, Iowa. This real estate market presents two distinctive features that are not described by commonly used stationary Gaussian random field models: (a) the city encompasses within its limits a hog lot which acts as an externality, negatively affecting the selling price of nea...

Local Quantile House Price Indices

Locally weighted quantile regressions allow the coefficients of hedonic house price functions to vary over space. Using data on all house sales in Cook County, Illinois, for 20002011, I show how the full distribution of appreciation rates changed over time in small geographic areas. The estimates reveal significant spatial variation in appreciation rates both geographically and across the distr...

Technical Paper: Hedonic House Price Models for Small Geographical Areas

This technical paper lays out the methodology used to develop a hedonic price model to measure price trends around The 606, a newly established linear park system on the northwest side of Chicago. Two pricing models were required to understand how the housing market responded to the development of the trail. First, in order to analyze the project’s impact by time and geographical area, the Inst...