Full metadata record
DC Field | Value | Language |
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dc.contributor.author | Tucker, Catherine - MIT Sloan School of Management | - |
dc.contributor.author | Zhang, Juanjuan - MIT Sloan School of Management | - |
dc.contributor.author | Zhu, Ting - University of Chicago | - |
dc.date.accessioned | 2009-12-31T23:52:47Z | - |
dc.date.available | 2009-12-31T23:52:47Z | - |
dc.date.issued | 2009 | - |
dc.identifier.uri | http://hdl.handle.net/2451/29512 | - |
dc.description.abstract | In April 2006, the real estate listing service in Massachusetts adopted a new policy that prohibits home sellers from resetting their property's 'days on market' to zero through relisting. We study the effect of this new policy on single-family home sales along the Massachusetts-Rhode Island border, using homes in Rhode Island, which did not change its policy, as the control group. We find that the policy change leads to a relative sale price reduction of around $11,000 for affected homes in Massachusetts. Homes caught in the middle of the policy change are the hardest hit; the sudden release of the cumulative days on market information lowers the average sale price by $21,500. Sellers respond to the new policy by reducing the listing price to shorten their property's days on market. | en |
dc.relation.ispartofseries | Net Institute Working Paper;09-16 | - |
dc.title | Days on Market and Home Sales | en |
Appears in Collections: | NET Institute Working Papers Series |
Files in This Item:
File | Description | Size | Format | |
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Tucker_Zhang_Zhu_09-16.pdf | 533.41 kB | Adobe PDF | View/Open |
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