Do housing sales drive prices or the converse?

2008·0.99 MB·English

by  Wheaton, William C., 1944-

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Massachusetts Institute of Technology
Departnnent of Econonnics
Working Paper
Series
DO HOUSING SALES DRIVE PRICES
OR THE CONVERSE?
William C. Wlieaton
Nai Jia Lee
Working Paper 08-01
January 28, 2008
Room
E52-251
50 Memorial Drive
MA
Cambridge, 02142
This paper can be downloaded without charge from the
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HB31
IM415

Draft: January 28, 2008.
Do Housing Sales Drive Housing Prices
or the Converse?
By
William C. Wheaton
Department ofEconomics
Center for Real Estate
MIT
Cambridge, Mass 02139
[email protected]
and
Nai Jia Lee
Department ofUrban Studies and Planning
Center for Real Estate
MIT
The authors are indebted to, the MIT Center for Real Estate, the National Association of
Realtors and to Torto Wheaton Research. They remain responsible for all results and
conclusions derivedthere from.