Combining list-price, sale-price and time-on-the-market data, we estimate an index that summarizes housing market conditions and that has a direct economic interpretation. The index measures seller’s bargaining power in a structural search model of home seller behavior. Structural estimation...

This paper exploits an unusually rich data set to estimate racial differences in the rents paid for identical housing in the same neighborhood in U.S. housing markets and how they vary with neighborhood racial composition. It overcomes the shortcomings of the data used in previous studies. It is...

Rental housing discrimination can take many forms. The most visible potential result of discrimination is the segregation of neighborhoods by race and ethnicity. The more subtle form of discrimination examined in this study is to charge different prices to different groups. This form of...

This paper assesses the predictive power of variables that measure market tightness, such as seller's bargaining power and sale probabilities, on future home prices. Theoretical insights from a stylized search-and-matching model illustrate that such indicators can be associated with subsequent...

This paper assesses the predictive power of variables that measure market tightness, such as seller's bargaining power and sale probabilities, on future home prices. Theoretical insights from a stylized search-and-matching model illustrate that such indicators can be associated with subsequent...

This paper specifies and estimates a structural model of home seller behavior. The model is an application of search theory to housing and is estimated using method of moments. The estimation method uncovers an analytical closed-form relationship between reduced-form coefficients of hedonic and...