Activity Number:
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406
- New Methodologies and Modern Data Applications
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Type:
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Contributed
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Date/Time:
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Tuesday, July 30, 2019 : 2:00 PM to 3:50 PM
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Sponsor:
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Business and Economic Statistics Section
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Abstract #305088
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Title:
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Las Cruces Housing Prices
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Author(s):
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Thomas Fullerton* and Steven L Fullerton
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Companies:
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UTEP and University of Texas at El Paso
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Keywords:
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Housing Prices;
Las Cruces, NM;
Time Series Data;
Applied Econometrics
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Abstract:
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Data constraints have historically limited most empirical housing market research to large urban economies. Those constraints are slowly eroding. for a growing number of small- and medium-sized metropolitan economies, it is now feasible to empirically analyze the housing market. This study develops an econometric model for the housing market in Las Cruces, New Mexico. Although Las Cruces is the second largest metropolitan economy in New Mexico, it has a housing sector that has not been extensively documented or analyzed. There are no guarantees that modeling results obtained for other regions will be replicated for this market. A reduced form equation is developed from a theoretical model that takes into account both housing supply and demand.
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Authors who are presenting talks have a * after their name.