TY  - JOUR
AB  - Purpose– This paper aims to examine the determinants of socioeconomic factors on housing prices and their differential effects among regions. Design/methodology/approach– This study employs a hierarchical linear model to analyze the housing and socioeconomic data of 363 metropolitan statistical areas (MSAs) in the USA. Findings– This study generates four findings. First, the population, the percentage of the elderly in population, violent crime rates, and foreclosure rates produce greater effects on housing prices in the Northeast than those in the West. Second, the population produces a greater effect on housing prices in the Northeast than those in the Midwest. Third, mortgage rates produce less significant effects on housing prices in the Northeast than those in the Midwest. Fourth, the population, the percentage of the elderly in population, and rent-income ratio produce greater effects on housing prices in the Northeast than those in the South. Research limitations/implications– Based on data collected for 2010, this study analyzes socioeconomic factors on the demand side under the implicit assumption that supply side remains constant. Future research can lift the restriction on fixed supply assumption. Practical implications– The results can provide information to buyers and sellers about how socioeconomic factors affect housing prices. Moreover, this study also provides useful information for the government to design and implement relevant housing policies. Originality/value– This is the pioneering study to examine the differential effect of socioeconomic factors on metropolitan housing prices among regions by employing dummy regional variables to detect changes in slope coefficients. These detailed conclusions would enhance the efficiency of transaction in housing markets.
VL  - 7
IS  - 1
SN  - 1753-8270
DO  - 10.1108/IJHMA-11-2012-0056
UR  - https://doi.org/10.1108/IJHMA-11-2012-0056
AU  - Lin Wei-Shong
AU  - Tou Jen-Chun
AU  - Lin Shu-Yi
AU  - Yeh Ming-Yih
PY  - 2014
Y1  - 2014/01/01
TI  - Effects of socioeconomic factors on regional housing prices in the USA
T2  - International Journal of Housing Markets and Analysis
PB  - Emerald Group Publishing Limited
SP  - 30
EP  - 41
Y2  - 2024/04/25
ER  -