The dramatic rise in the U.S. homeownership rate from 64% in 1996 to almost 70% in 2005 has prompted increased attention to the relation between homeownership and demographic characteristics of households. The recent rise and sharp decline of subprime lending will likely spur further interest in...

This paper analyzes how the distribution of marketing time of residential real estate evolves across time. Using real estate data from a large suburb in the Washington D.C. area we first show that the whole distribution of marketing time shifts to the right when a “hot” housing market in...