• Media type: E-Book
  • Title: Housing Prices and the Optimal Time-on-The-Market Decision
  • Contributor: Inaltekin, Hazer [Author]; Jarrow, Robert A. [Other]; Saglam, Mehmet [Other]; Yildirim, Yildiray [Other]
  • Published: [S.l.]: SSRN, [2011]
  • Extent: 1 Online-Ressource (14 p)
  • Language: English
  • DOI: 10.2139/ssrn.1808018
  • Identifier:
  • Origination:
  • Footnote: Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments April 12, 2011 erstellt
  • Description: This paper provides a model for housing prices based on a seller solving the optimal time-on-the market problem. Given the seller's optimal time-on-the market, analytical expressions are provided for both the expected time-on-the-market and the sales price. These expressions facilitate the computation of comparative statics. Consistent with economic intuition, we show that (i) both the expected time-on-the market and sales price decrease as interest rates increase, (ii) the expected time-on-the market increases and the expected sales price decreases as offer activity declines, and (iii) the expected time-on-the market and expected sales price both increase as the list price increases
  • Access State: Open Access