An Empirical Examination of Traditional Neighborhood DevelopmentReal Estate Economics
Format of Original17 p.
AbstractThis 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 InformationCharles 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/