Online Appendix for : Is the Behavior of Sellers with Expected Gains and Losses Relevant to Cycles in House Prices?

This is the Online Appendix for: Is the Behavior of Sellers with Expected Gains and Losses Relevant to Cycles in House Prices?Appendix 1 provides support for using assessed value to mitigate unobserved quality.Appendix 2 describes the calculation of normalized assessed value (NAV) and summarizes results of leave-one-out (LOO) cross-validation.Appendix 3 summarizes the analytical framework.Appendix 4 displays our sample construction process.Appendix 5 reports the first-stage hedonic regression results.Appendix 6 shows the comparison between repeat sales index (based on repeat sales pairs), loss index and gain index.Appendix 7 provides additional summary statistics that supplement Table 2.Appendix 8 summarizes double results using asking price.Appendix 9 summarizes results using an alternative house price cycle.Appendix 10 reports additional robustness tests. • A10.1 report robustness tests with various combinations of spatial and temporal fixed effects.• A10.2 report robustness tests by restricting to the repeat sale sample only.• A10.3 report results using asking price as the dependent variable.• A10.4 reports robustness tests by adding the loan-to-value ratio.Appendix 11 summarizes Clapp and Zhou (2019)'s method for correcting unobserved quality and report results using their method.Appendix 12 presents and discusses contrast-relative analyses holding loss/gain coefficients constant