THE DRIVERS OF HOUSING PRICES AND THE IMPACT OF SCHOOLS: EVIDENCE FROM GEORGIA
This paper attempts to describe the drivers of housing prices in Cumming, Georgia, a rapidly growing suburban area in the southeast of the US. Data from123 single family homes were collected and analyzed using multiple regression methodology. The findings from correlation matrix indicate that the...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Academica Brâncuşi
2023-12-01
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| Series: | Analele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie |
| Subjects: | |
| Online Access: | https://www.utgjiu.ro/revista/ec/pdf/2023-06/01_devkota.pdf |
| _version_ | 1797300143457828864 |
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| author | MITRA L. DEVKOTA ERIC B. HOWINGTON |
| author_facet | MITRA L. DEVKOTA ERIC B. HOWINGTON |
| author_sort | MITRA L. DEVKOTA |
| collection | DOAJ |
| description | This paper attempts to describe the drivers of housing prices in Cumming, Georgia, a rapidly growing suburban
area in the southeast of the US. Data from123 single family homes were collected and analyzed using multiple regression
methodology. The findings from correlation matrix indicate that the price of the house is positively associated with the
number of bedrooms, number of bathrooms, square footage of the house, the lot size, and the number of parking spaces
available in the house, and negatively associated with the age of the house. The results from regression analysis suggest
that number of bathrooms, square footage, parking spaces, and the dummy variables for Denmark High School, Forsyth
Central High School, and North Forsyth High School are statistically significant predictors of the price of the house for
Cumming, Georgia. Finally, about 80% of the variation in the prices of the houses is accounted for by our regression
model. These findings may have important implications for decision-making by residents, real-estate agents, house
buyers and sellers, financial institutions, policymakers, and scholars alike.
|
| first_indexed | 2024-03-07T23:02:58Z |
| format | Article |
| id | doaj.art-2e5c83fdb3374f59b71a1ca5e24c8394 |
| institution | Directory Open Access Journal |
| issn | 1844-7007 |
| language | English |
| last_indexed | 2024-03-07T23:02:58Z |
| publishDate | 2023-12-01 |
| publisher | Academica Brâncuşi |
| record_format | Article |
| series | Analele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie |
| spelling | doaj.art-2e5c83fdb3374f59b71a1ca5e24c83942024-02-22T11:18:39ZengAcademica BrâncuşiAnalele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie1844-70072023-12-01I6612THE DRIVERS OF HOUSING PRICES AND THE IMPACT OF SCHOOLS: EVIDENCE FROM GEORGIAMITRA L. DEVKOTA0ERIC B. HOWINGTON1 UNIVERSITY OF NORTH GEORGIA, DAHLONEGA, GA 30597, USA VALDOSTA STATE UNIVERSITY, VALDOSTA, GA 31698, USAThis paper attempts to describe the drivers of housing prices in Cumming, Georgia, a rapidly growing suburban area in the southeast of the US. Data from123 single family homes were collected and analyzed using multiple regression methodology. The findings from correlation matrix indicate that the price of the house is positively associated with the number of bedrooms, number of bathrooms, square footage of the house, the lot size, and the number of parking spaces available in the house, and negatively associated with the age of the house. The results from regression analysis suggest that number of bathrooms, square footage, parking spaces, and the dummy variables for Denmark High School, Forsyth Central High School, and North Forsyth High School are statistically significant predictors of the price of the house for Cumming, Georgia. Finally, about 80% of the variation in the prices of the houses is accounted for by our regression model. These findings may have important implications for decision-making by residents, real-estate agents, house buyers and sellers, financial institutions, policymakers, and scholars alike. https://www.utgjiu.ro/revista/ec/pdf/2023-06/01_devkota.pdfmultiple regressioncorrelationreal estatehousing pricesdummy variables |
| spellingShingle | MITRA L. DEVKOTA ERIC B. HOWINGTON THE DRIVERS OF HOUSING PRICES AND THE IMPACT OF SCHOOLS: EVIDENCE FROM GEORGIA Analele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie multiple regression correlation real estate housing prices dummy variables |
| title | THE DRIVERS OF HOUSING PRICES AND THE IMPACT OF SCHOOLS: EVIDENCE FROM GEORGIA |
| title_full | THE DRIVERS OF HOUSING PRICES AND THE IMPACT OF SCHOOLS: EVIDENCE FROM GEORGIA |
| title_fullStr | THE DRIVERS OF HOUSING PRICES AND THE IMPACT OF SCHOOLS: EVIDENCE FROM GEORGIA |
| title_full_unstemmed | THE DRIVERS OF HOUSING PRICES AND THE IMPACT OF SCHOOLS: EVIDENCE FROM GEORGIA |
| title_short | THE DRIVERS OF HOUSING PRICES AND THE IMPACT OF SCHOOLS: EVIDENCE FROM GEORGIA |
| title_sort | drivers of housing prices and the impact of schools evidence from georgia |
| topic | multiple regression correlation real estate housing prices dummy variables |
| url | https://www.utgjiu.ro/revista/ec/pdf/2023-06/01_devkota.pdf |
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