主 题: Termination of Listing Contracts: A Competing Risk Survival Analysis
内容简介: We examine the terminations of listing contracts of residential properties. In contrast to previous studies looking only at terminations through sales, we study both sales and withdrawals. Using a large sample of listing contracts from a Virginia MLS, we estimate a competing-risk proportional hazard model. We find that the probability of sale displays a concave shape. We find the hazard of withdrawal increases overtime, indicative of sellers becoming impatient as time passes. Furthermore, we find house price appreciation, boosts the likelihood of sale and reduces the chance of withdrawal. More volatile house prices and higher local unemployment rates increase the likelihood of withdrawal.
报告人: 田超岳 副教授
时 间: 2018-04-20 14:00
地 点: 位育楼117
举办单位: 经济学院 城市发展研究院