Days on market and home sales
In 2006, Massachusetts adopted a new policy that prohibits home sellers from resetting their properties’ days on market through relisting. Massachusetts homes exposed to the policy change experienced a $16,000 reduction in sale price relative to Rhode Island homes. Slow-moving homes suffered a great...
| Main Authors: | , , |
|---|---|
| Other Authors: | |
| Format: | Article |
| Language: | en_US |
| Published: |
John Wiley & Sons, Inc
2014
|
| Online Access: | http://hdl.handle.net/1721.1/88161 https://orcid.org/0000-0002-1635-3797 https://orcid.org/0000-0002-1847-4832 |
| _version_ | 1811092346322812928 |
|---|---|
| author | Tucker, Catherine Elizabeth Zhang, Juanjuan Zhu, Ting |
| author2 | Sloan School of Management |
| author_facet | Sloan School of Management Tucker, Catherine Elizabeth Zhang, Juanjuan Zhu, Ting |
| author_sort | Tucker, Catherine Elizabeth |
| collection | MIT |
| description | In 2006, Massachusetts adopted a new policy that prohibits home sellers from resetting their properties’ days on market through relisting. Massachusetts homes exposed to the policy change experienced a $16,000 reduction in sale price relative to Rhode Island homes. Slow-moving homes suffered a greater reduction, but newer listings only had a small increase in sale price. One reason is that some buyers were unaware of sellers’ manipulation of days on market and thus unable to recognize authentically new listings. Sellers reacted to the new policy by cutting listing prices, although in towns where listing price history was transparent, sellers raised listing prices to dampen the stigma of slow sales. |
| first_indexed | 2024-09-23T15:16:46Z |
| format | Article |
| id | mit-1721.1/88161 |
| institution | Massachusetts Institute of Technology |
| language | en_US |
| last_indexed | 2024-09-23T15:16:46Z |
| publishDate | 2014 |
| publisher | John Wiley & Sons, Inc |
| record_format | dspace |
| spelling | mit-1721.1/881612022-10-02T01:53:16Z Days on market and home sales Tucker, Catherine Elizabeth Zhang, Juanjuan Zhu, Ting Sloan School of Management Tucker, Catherine Elizabeth Zhang, Juanjuan In 2006, Massachusetts adopted a new policy that prohibits home sellers from resetting their properties’ days on market through relisting. Massachusetts homes exposed to the policy change experienced a $16,000 reduction in sale price relative to Rhode Island homes. Slow-moving homes suffered a greater reduction, but newer listings only had a small increase in sale price. One reason is that some buyers were unaware of sellers’ manipulation of days on market and thus unable to recognize authentically new listings. Sellers reacted to the new policy by cutting listing prices, although in towns where listing price history was transparent, sellers raised listing prices to dampen the stigma of slow sales. NET Institute 2014-07-01T14:27:06Z 2014-07-01T14:27:06Z 2013-06 2012-03 Article http://purl.org/eprint/type/JournalArticle 07416261 1756-2171 http://hdl.handle.net/1721.1/88161 Tucker, Catherine, Juanjuan Zhang, and Ting Zhu. “Days on Market and Home Sales.” The RAND Journal of Economics 44, no. 2 (June 2013): 337–360. https://orcid.org/0000-0002-1635-3797 https://orcid.org/0000-0002-1847-4832 en_US http://dx.doi.org/10.1111/1756-2171.12022 RAND Journal of Economics Creative Commons Attribution-Noncommercial-Share Alike http://creativecommons.org/licenses/by-nc-sa/4.0/ application/pdf John Wiley & Sons, Inc SSRN |
| spellingShingle | Tucker, Catherine Elizabeth Zhang, Juanjuan Zhu, Ting Days on market and home sales |
| title | Days on market and home sales |
| title_full | Days on market and home sales |
| title_fullStr | Days on market and home sales |
| title_full_unstemmed | Days on market and home sales |
| title_short | Days on market and home sales |
| title_sort | days on market and home sales |
| url | http://hdl.handle.net/1721.1/88161 https://orcid.org/0000-0002-1635-3797 https://orcid.org/0000-0002-1847-4832 |
| work_keys_str_mv | AT tuckercatherineelizabeth daysonmarketandhomesales AT zhangjuanjuan daysonmarketandhomesales AT zhuting daysonmarketandhomesales |