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Urban Studies
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The Dynamics of Intraurban Quantile House Price Indexes

N. Edward Coulson

Department of Economics, Penn State University, University Park, Pennsylvania, PA 16802, USA, fyj{at}psu.edu

Daniel P. McMillen

Department of Economics (MC 144), University of Illinois at Chicago, 601 S. Morgan Street, Chicago, IL 60607, USA, mcmillen{at}uic.edu

Estimating price indexes for different quantiles shows how prices vary for homes that are in different stages of the filtering process. The paper describes a filtering model and its implication for the dynamic interaction of housing prices at these various stages. A time-series analysis of quantile price indexes for three municipalities near Chicago supports the predictions of the filtering model.

Urban Studies, Vol. 44, No. 8, 1517-1537 (2007)
DOI: 10.1080/00420980701373446
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