Journal Of Real Estate Research Research Articles

The Real Estate Academic Leadership (REAL) Rankings for 2019–2023

This iteration of the rankings is the ninth release of the Real Estate Academic Leadership (REAL) rankings for authors and institutions. The top three real estate journals - The Journal of Real Estate Finance and Economics, The Journal of Real Estate Research, and Real Estate Economics – continue to serve as the basis for these rankings. Trends in the rankings continue to highlight the fact that an author does not need to be in academia to produce high-quality research published in the top real estate journals. Additionally, changes in the rankings reflect stability and staying power of author productivity and institutional productivity. Compared to previous iterations of the rankings, there are fewer changes in institutional rankings based on the movement of a productive individual.

The Evolution of Hedonic Pricing Models

This study extends the work by Sirmans et al. (2005) by providing a review of the hedonic pricing model literature published in real estate journals from 2005 through 2021. A total of 252 studies are reviewed with 150 of these being published in the top three traditional real estate journals: Journal of Real Estate Finance and Economics, Journal of Real Estate Research, and Real Estate Economics. An additional 42 papers are published in the housing-specific journal, Journal of Housing Research. A review shows that real estate research is global in both authorship and data usage, although most of the studies use U.S. data and are performed by U.S. researchers. In addition, real estate modeling is quite expansive, including spatial or geospatial autoregressive models, difference-in-difference models, quantile regression, and other advanced techniques.

The Real Estate Academic Leadership (REAL) Rankings for 2018–2022

This is the eighth release of the Real Estate Academic Leadership (REAL) rankings for authors and institutions. Similar to the previous seven releases, the rankings reflect articles contained in the top three real estate journals (The Journal of Real Estate Finance and Economics, The Journal of Real Estate Research, and Real Estate Economics) based on multiple indices. Unlike trends from the previous rankings, minor changes regarding academic institutions reflected one of two scenarios: faculty retirements and/or deaths; and faculty and recent PhD graduates transitioning to positions in industry rather than academia. Larger changes in the rankings related to academic institutions continue to reflect movement of productive research faculty from one university to another university.

The Real Estate Academic Leadership (REAL) Rankings for 2017–2021

This is the seventh release of the Real Estate Academic Leadership (REAL) rankings for authors and institutions. These rankings continue to include articles published solely in the top three real estate journals (The Journal of Real Estate Finance and Economics, The Journal of Real Estate Research, and Real Estate Economics) based on multiple rankings. Despite the pandemic and impacts to university budgets, many universities still managed to hire faculty, albeit many on term-limited visiting professor positions. The changes in this year’s rankings largely reflect the fiscal capacity of the most competitive institutions to weather the pandemic and remain productive in the real estate intellectual arena.

The Real Estate Academic Leadership (REAL) Rankings for 2011–2015

The intellectual contributions of real estate to the larger body of knowledge makes real estate interdisciplinary, often creating difficulty related to where real estate publications stand compared to the traditional disciplines of economics, finance, marketing, urban studies, public administration, and sociology. The purpose of the Real Estate Academic Leadership (REAL) rankings is to highlight the authors and institutions demonstrating achievement in intellectual contributions to the field of real estate. The rankings provide an opportunity to measure the authors and institutions engaged in real estate research against one another. Moreover, for those being evaluated for promotion and tenure, REAL offers a source for evaluation relative to one's peers. Ultimately, the REAL rankings index allows outside institutions and individuals to understand where the greatest occurrence of high-level research is currently being conducted.It is widely documented and accepted in the peer-reviewed literature that the top three real estate journals are the Journal of Real Estate Finance and Economics, the Journal of Real Estate Research, and Real Estate Economics. These three journals serve as the basis for the REAL author and institutional rankings. Over time, should existing real estate journals rise in prominence, or should one of these journals be deemed less worthy, the core journals for these rankings may also change.

Acknowledging Contributions to the Real Estate Literature

In this paper, we study contributions to real estate research by individuals and institutions from 2000 to 2012. Specifically, we rank individuals by the total number of papers published in five well-known journals: Real Estate Economics, Journal of Real Estate Research, Journal of Real Estate Finance and Economics, Journal of Real Estate Portfolio Management, and Journal of Housing Research. Our findings indicate that a select number of scholars attain a notably high rank in each journal. We also identify authors that publish at least one paper in each of the five journals. We name these scholars “Grand Slam Authors.” We rank institutions by the contributions of their faculty and graduates. The majority of institutions rank in the top 25 along multiple dimensions.

Topics in Real Estate Research, 1973-2010: A Latent Semantic Analysis

With the development and evolution of real estate literature a number of studies, primarily qualitative, have attempted to build structure into the body of published research. This research uses Latent Semantic Analysis to evaluate the content of abstracts published in Real Estate Economics, the Journal of Real Estate Finance and Economics, and the Journal of Real Estate Research from 1973 through 2010. Two main themes are identified and results are disaggregated, creating a pool of 25 topics within the main themes. Findings show a relatively stable pattern of research for some topics and the influence of market conditions on others. The extracted research topics comprise the intellectual core of real estate research.

Research in Real Estate, 1973-2010: A Three-Journal Comparison

This research compares Real Estate Economics, the Journal of Real Estate Finance and Economics, and the Journal of Real Estate Research in terms of their intellectual contribution to the real estate discipline. The 25 topics of real estate research identified by Winson-Geideman and Evangelopoulos (2013) are used as a basis for a comparison of topic emphases within the three journals. Findings show a shared group of topics, comprising the intellectual core of real estate research, as well as the specific thematic focus of each journal. Analysis of the dynamics in topic emphasis indicates a slow convergence of the three journals, suggesting that the discipline's maturation is accompanied by a process of scope clarification.

Evaluating Tiers of Real Estate Publications in the U.S.

Many universities use tiered target publication lists to evaluate research for promotion and tenure. A survey finds U.S. real estate academics agree which criteria to use to classify journals into tiers. They also agree that a top tier should consist of four journals. While there is general agreement that Real Estate Economics and the Journal of Real Estate Finance and Economics are the top two journals, economists and real estate business academics differ in their assessment of the Journal of Urban Economics and the Journal of Real Estate Research as the third and fourth ranked journals. There is even less agreement about which journals should constitute the second tier. The distinction between real estate as an urban economics field and as a separate business discipline is evidenced by differences in perceptions of journals.

An analysis of the impact of timberland, farmland and commercial real estate in the asset allocation decisions of institutional investors

We examine the effects of including timberland, farmland and commercial real estate in a mixed asset portfolio with stocks, government bonds and T-Bills. Using both smoothed and unsmoothed returns (as per Geltner [Geltner, D. (1993). Estimating market values from appraised values without assuming an efficient market. Journal of Real Estate Research, 8, 25–345.]) and both constrained and unconstrained allocation assumptions (as per Eichhorn, Gupta and Stubbs [Eichhorn, D., Gupta, F., & Stubbs, E. (1998). Using constraints to improve the robustness of asset allocation. Journal of Portfolio Management, Spring, 41–48.]), we employ Markowitz portfolio optimization and find widely varying allocation outcomes. However, timberland entered nearly all portfolios, accounting for large percentages in several scenarios, while farmland entered only low-risk portfolios. At lower risk levels, commercial real estate dominates the real estate allocation but as acceptable risk levels rise, timberland supplants commercial real estate as the primary component of the portfolio's real estate allocation.

Industry Decision-Maker Use and Involvement in Academic Real Estate Research

The usefulness of academic journal publications to real estate industry decision-makers (e.g., institutional investors, managers, appraisers, brokers, developers, economists, etc.) is discussed for the benefit of university researchers seeking promotion and tenure. Different perspectives, experience, and advice is offered by four highly respected real estate industry decision-makers on how to successfully undertake and publish useful applied research in academic journals such as the Journal of Real Estate Research. These people regularly use academic journal articles to do their industry jobs better, as well as to publish their own applied research in respected academic journals. They also cite examples of applied research published in highly respected academic journals that they have found useful in their work. In addition, specific opportunities are discussed and suggestions made for university researchers wishing to participate in applied research publishable in quality academic journals respected by university tenure and promotion committees.

The Finance and Real Estate Publications of Real Estate Editorial Board Members

The publication records in finance and real estate journals of editorial board members of the top three business-oriented real estate journals—Real Estate Economics, Journal of Real Estate Research, and Journal of Real Estate Finance and Economics—are evaluated to discern the relative importance of both types of publication outlets in determining research excellence for real estate researchers. The temporal distribution of these publications is also assessed. Findings show that the overwhelming majority of board member publications are in real estate journals with a trend toward publishing primarily in real estate journals and that publication in finance journals is not a prerequisite for being designated a board member of a top real estate journal. The finance publications of real estate editorial board members are in premier finance journals, however, which implies a concurrent high level of quality on all real estate research. These findings support the argument that real estate should be viewed as a separate business discipline and that real estate specific research is highly rewarded within part of the academic community.

Contributors to theJournal of Real Estate Research:The First Twenty Years

This study reports on the development of the Journal of Real Estate Research (JRER) in terms of the individual and institutional contributing sources of its published research. The study is based o...

Influential Journals, Institutions and Researchers in Real Estate

A threshold citation approach is used to measure the research influence of academic real estate journals, institutions and individual researchers. Real Estate Economics followed by The Journal of Real Estate Finance and Economics and Journal of Real Estate Research are the most influential real estate journals. Almost 63% of heavily cited works in core real estate journals are published in real estate journals. Twenty-one percent of the heavily cited works are published in Real Estate Economics. An overwhelming 80% of the citations of the 21 most heavily cited papers in real estate come from articles published in real estate journals. Even when real estate articles are published in top-tier finance and economics journals, the majority of the citations associated with these articles come from top real estate journals. This provides strong evidence of the existence of a distinct real estate research discipline. As compared to prior studies, an expanded universe of institutions is found to influence real estate research. Research-extensive universities generating high-quality economics, statistics and finance research influence the real estate discipline. The individuals that are most influential, however, are generally those with substantial real estate discipline specific research.

Spatial Distribution of Retail Sales

We examine the distribution of sales for a retail chain in the Houston market using a spatial gravity model. Unlike previous empirical studies, our approach models spatial dependencies among both consumers and retailers. The results show that both forms of spatial dependence exert statistically and economically significant impacts on the estimates of parameters in retail gravity models. Contrary to the suggestions of (Gautschi, D. A. (1981). “Specification of Patronage Models for Retail Center Choice,” Journal of Marketing Research 18, 162–174.) as well as (Eppli, M. J., and J. D. Shilling. (1996). “How Critical Is a Good Location to a Regional Shopping Center?” Journal of Real Estate Research 12, 459–468.), our results show the importance of the distance parameter in retail gravity models may be greatly understated. Thus, ignoring spatial dependence may lead to overestimation of the deterministic extent of trade areas, and underestimate the importance of good locations.

Authors’ Perceptions and Preferences Among Real Estate Journals

Journal editors who want to attract the best research must understand authors’ perceptions of their journals. In this survey, U.S. academic authors rank Real Estate Economics (REE) higher than The Journal of Real Estate Finance and Economics (JREFE) and rank The Journal of Real Estate Research (JRER) third. Authors perceive REE as high quality with promotion and tenure value and JREFE as providing a fair, efficient publication process. Faculty at doctoral degree‐granting schools are more discerning between the journals, whereas faculty at schools with real estate degree programs are more likely to have work in all three journals rewarded. Publishing in a journal and membership in a real estate association also influence opinions.

A Normalized Citation Analysis of Real Estate Journals

This study presents an analysis of the citation patterns and rankings for journals in real estate and related areas for the period 1990–1995. Journals were ranked based on the number of times they were cited in four base journals with adjustments for journal size and longevity. The results show that Real Estate Economics is the most cited journal among real estate publications, followed closely by the Journal of Real Estate Finance and Economics and the Journal of Real Estate Research. A temporal analysis reveals a shift in citations, over the time period, away from the traditional economics and practitioner-oriented journals to the academic real estate journals.

Introduction: Corporate Real Estate Research Thought Leadership

(1999). Introduction: Corporate Real Estate Research Thought Leadership. Journal of Real Estate Research: Vol. 17, No. 3, pp. 259-263.

The Publications of the American Real Estate Society: A Decade of Progress

One of ARES’ initial and central objectives has been the creation and dissemination of knowledge relevant to real estate problem solvers. To achieve this objective and to make the real estate publication market more complete, ARES developed a portfolio of publications. This paper reviews the creation and evolution of The Journal of Real Estate Research, the Journal of Real Estate Literature, the Research Issues in Real Estate monograph series, and The Journal of Real Estate Portfolio Management during ARES’ first ten years.

The Journal of Real Estate Research: A Ten-Year Review

This paper provides a catalogue of the papers published in The Journal of Real Estate Research during its first ten years of operation, 1986-96. Articles are indexed by volume and number of The Journal, author, title, and subject.