caa a22 4500 477129919 CHVBK 20180405111702.0 cr unu---uuuuu 170330e19970101xx s 000 0 eng 10.1023/A:1007736521741 doi (NATIONALLICENCE)springer-10.1023/A:1007736521741 Frequency of Transaction and House Price Modeling [Elektronische Daten] [Bradford Case, Henry Pollakowski, Susan Wachter] This article examines the characteristics and price behavior of repeatedly transacted properties. Using data from four U.S. counties, we estimate hedonic price models of properties grouped by transaction frequency, and compare estimated standard deviations and estimated appreciation rates by group. For each of four counties studied, we find that estimated house price appreciation is systematically higher among properties that transact more frequently. One possible explanation for this result is that purchasers make property improvements that are not adequately reflected in the available data. We also find that estimated standard deviations of the disturbance term show a marked decrease as the frequency of transaction increases. Since frequently transacting properties are not found to be systematically more homogeneous than seldomly transacting properties, we do not attribute this to any increase in homogeneity for frequently transacting properties, but rather to the length of time elapsed between transactions of properties. The findings of this article suggest that repeat-sales price models may need to be adjusted to account for cross-sectional variation in transaction probabilities---that is, the selectivity of the subsample of properties that transacted (or transacted repeatedly) during any finite study period. Kluwer Academic Publishers, 1997 price indices nationallicence repeat sales nationallicence hedonics nationallicence Case Bradford Yale University, New Haven, Connecticut aut Pollakowski Henry Boston College, Boston, Massachusetts aut Wachter Susan The University of Pennsylvania, Philadelphia, Pennsylvania aut The Journal of Real Estate Finance and Economics Kluwer Academic Publishers 14/1-2(1997-01-01), 173-187 0895-5638 14:1-2<173 1997 14 11146 https://doi.org/10.1023/A:1007736521741 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1023/A:1007736521741 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Case Bradford Yale University, New Haven, Connecticut aut NATIONALLICENCE 700 1- Pollakowski Henry Boston College, Boston, Massachusetts aut NATIONALLICENCE 700 1- Wachter Susan The University of Pennsylvania, Philadelphia, Pennsylvania aut NATIONALLICENCE 773 0- The Journal of Real Estate Finance and Economics Kluwer Academic Publishers 14/1-2(1997-01-01), 173-187 0895-5638 14:1-2<173 1997 14 11146 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer