Article
An Empirical Examination of Traditional Neighborhood Development
Real Estate Economics
Document Type
Article
Language
eng
Format of Original
17 p.
Publication Date
10-1-2001
Publisher
Blackwell Publishing
Disciplines
Abstract
This study analyzes the impact of the new urbanism on single-family home prices. Specifically, we explore the price differential that homebuyers pay for houses in new urbanist developments relative to houses in conventional suburban developments. Using data on over 5,000 single-family home sales from 1994 to 1997 in three different neighborhoods, hedonic regression results reveal that consumers pay more for homes in new urbanist communities than those in conventional suburban developments. Further analyses indicate that the price premium is not attributable to differences in improvement age and other housing characteristics.
Citation Information
Charles C Tu and Mark Eppli. "An Empirical Examination of Traditional Neighborhood Development" Real Estate Economics (2001) ISSN: 1080-8620 Available at: http://works.bepress.com/mark_eppli/5/
Accepted version. Real Estate Economics, Vol. 29, No. 3 (Fall 2001): 485-501. DOI. © 2001 Blackwell Publishing. Used with permission.
Mark Eppli was affiliated with George Washington University at time of publication.