Patterns and Determinants of Metropolitan House Prices , 1977 to 1991

  title={Patterns and Determinants of Metropolitan House Prices , 1977 to 1991},
  author={Jesse M. Abraham and Patric H. Hendershott},
Local real house prices have exhibited substantial volatility in the United States in recent years. In virtually all of the widely dispersed selection of 30 cities in this paper, real prices increased by over 10 percent and decreased by more than 5 percent in individual years during the period from 1977 to 1991. In fact, one-half of the cities experienced real price increases above 15 percent and one-third real decreases greater than 7.5 percent. Swings in regional house prices clearly mimic… CONTINUE READING

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