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Housing Choice, Residential Mobility, and Hedonic Approaches

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Handbook of Regional Science

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Abstract

This chapter explores the literature on residential mobility and house price hedonics. Residential mobility studies the decision of economic agents to move or not and, if they move, their choice of new residence. Topics covered in this chapter include the theory behind the move-or-stay decision, modeling intra- and interregional moves, empirically validated determinants of moving, and macro- and microlevel studies on mobility. Next, house price hedonics explain the price of a house as the sum of all the things that give a house value, from structural characteristics like the number of full bathrooms to public services and neighborhood characteristics that the house experiences. The chapter discusses the theory behind hedonics, applications of the technique, and empirical approaches to identify hedonic house price studies and second-stage hedonic regressions of the demand and supply of characteristics that give a house its value.

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Author information

Authors and Affiliations

  1. Department of Economics, University of Cincinnati, Cincinnati, OH, USA

    David M. Brasington

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  1. David M. Brasington
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Correspondence to David M. Brasington .

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Editors and Affiliations

  1. Institute for Economic Geography and GIScience, Vienna University of Economics and Business, Vienna, Austria

    Manfred M. Fischer

  2. and Business Administration Department of Spatial Economics, Free University Faculty of Economics, Amsterdam, The Netherlands

    Peter Nijkamp

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Brasington, D.M. (2019). Housing Choice, Residential Mobility, and Hedonic Approaches. In: Fischer, M., Nijkamp, P. (eds) Handbook of Regional Science. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-36203-3_4-1

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  • DOI: https://doi.org/10.1007/978-3-642-36203-3_4-1

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  • Print ISBN: 978-3-642-36203-3

  • Online ISBN: 978-3-642-36203-3

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