TY - BOOK ID - 136243016 TI - The Dynamics of Housing Prices AU - Titman, Sheridan. AU - Wang, Ko. AU - Yang, Jing. AU - National Bureau of Economic Research. PY - 2014 PB - Cambridge, Mass. National Bureau of Economic Research DB - UniCat UR - https://www.unicat.be/uniCat?func=search&query=sysid:136243016 AB - We analyze the prices of owner-occupied housing in 97 metropolitan areas between 1980 and 2011. Our tests indicate that price changes exhibit positive serial correlation at the one year intervals, with subsequent reversals of price changes over longer intervals. Consistent with our simple model, regional differences in observed price patterns reflect differences in the serial correlation of the demand shocks as well as the elasticity of supply responses. ER -