Do Values of Existing Home Sales Reflect Property Values?

dc.contributor.author	Huffman, Gregory W.
dc.date.accessioned	2020-09-13T19:45:46Z
dc.date.available	2020-09-13T19:45:46Z
dc.date.issued	2001
dc.identifier.uri	http://hdl.handle.net/1803/15683
dc.description.abstract	In many locales, the average price of existing home sales is used as an of indicator home prices. This information is then used to establish the value of the property for tax purposes. A simple example is presented here to show that this approach can be very misleading. In this example, the average price of existing home sales is always rising at the rate of growth of the economy, and yet the price each home remains constant.
dc.language.iso	en_US
dc.publisher	Vanderbilt University	en
dc.subject.other
dc.title	Do Values of Existing Home Sales Reflect Property Values?
dc.type	Working Paper	en
dc.description.department	Economics