Scientific article
English

Robust Repeat Sales Indexes

Published inReal estate economics, vol. 41, no. 3, p. 517-541
Publication date2013
Abstract

Using single-family sales data for Louisville, Kentucky, we show the benefits of applying robust methods to down-weight problematic transactions in a repeat sales context. Robust estimators reduce the influence of outliers in repeat sales price changes that are due to data entry errors, quality changes or nonmarket transactions. In addition to comparing conventional and robust indexes, we also use simulated data, where the correct index is known, to show that robust methods control for the impacts of contaminated data. Finally, we demonstrate that robust methods reduce the magnitude and volatility of index revisions.

Citation (ISO format)
BOURASSA, Steven C., CANTONI, Eva, HOESLI, Martin E. Robust Repeat Sales Indexes. In: Real estate economics, 2013, vol. 41, n° 3, p. 517–541. doi: 10.1111/reec.12013
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Article (Published version)
accessLevelPrivate
Identifiers
Journal ISSN1080-8620
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Technical informations

Creation17/09/2013 16:09:00
First validation17/09/2013 16:09:00
Update14/03/2023 20:26:32
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