Abstract
This paper examines short-run fluctuations in real house prices in Metropolitan Toronto. We hypothesize that the average time that a house has been on the market before it is sold provides information on the expectation of future movements in real house prices. The paper combines the use of cross spectral analysis (in the frequency domain) with regression analysis (in the time domain) to examine the relationship between monthly real house prices and the average waiting times. In particular, we use a Hannan estimator to form a distributed lag function from the spectral analysis and use these results as an input to the regression model. The empirical findings support our use of waiting times as a proxy of future real house price movements.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
