How well do individuals predict the selling prices of their homes?

TitleHow well do individuals predict the selling prices of their homes?
Publication TypeJournal Article
Year of Publication2015
AuthorsBenitez-Silva, H, Eren, S, Heiland, F, Jimenez-Martin, S
JournalJournal of Housing Economics
Volume29
Pagination12-25
KeywordsHousing, Methodology
Abstract

The accuracy of property values estimated by homeowners is an open empirical question that requires an evaluation of the reported values using a market assessment. Using information on selling prices from the Health and Retirement Study and the American Housing Survey, and after accounting for possible measurement error in reporting and selection regarding those who we observe selling, we find evidence that homeowners overestimate the value of their properties by around 8 with an estimated range between 3.4 and 12.7 (95 CI). 2015.

Notes

Export Date: 9 September 2015

URLhttp://www.scopus.com/inward/record.url?eid=2-s2.0-84936102548andpartnerID=40andmd5=17ba0e3e060e90bbe8714681ba524863
DOI10.1016/j.jhe.2015.04.001
Endnote Keywords

American Housing Survey/Health and Retirement Study/Housing prices/Instrumental variables/Panel data/Self-reported housing values

Endnote ID

999999

Citation Key8170