Real estate valuation: an SEM modelling approach

Jim Freeman; Xin Zhao

Real estate valuation: an SEM modelling approach

Jim Freeman, Xin Zhao

MSM Decision Sciences

Research output: Chapter in Book/Conference proceeding › Conference contribution › peer-review

Abstract

Hedonic regression has long been popular for estimating property values. Nowadays, however, structural equation modeling (SEM) is increasingly seen as a realistic alternative. The session reports on an SEM analysis of a historical dataset for a large Canadian realtor. A two stage approach was adopted for the modelling, the first stage focusing on internal relationships between houses’ structural characteristics; and the second, on housing values and their determinants. Following on, an innovative second order model was developed enabling advertised list prices to be directly and significantly derived from estimated housing values

Original language	English
Title of host publication	host publication
Publication status	Published - Jul 2013
Event	The OR Society: OR55 Annual Conference - Exeter, UK Duration: 3 Sept 2013 → 5 Sept 2013

Conference

Conference	The OR Society: OR55 Annual Conference
City	Exeter, UK
Period	3/09/13 → 5/09/13

Cite this

@inproceedings{8f48c6aafd2d493c8a203594a5c55c01,

title = "Real estate valuation: an SEM modelling approach",

abstract = "Hedonic regression has long been popular for estimating property values. Nowadays, however, structural equation modeling (SEM) is increasingly seen as a realistic alternative. The session reports on an SEM analysis of a historical dataset for a large Canadian realtor. A two stage approach was adopted for the modelling, the first stage focusing on internal relationships between houses{\textquoteright} structural characteristics; and the second, on housing values and their determinants. Following on, an innovative second order model was developed enabling advertised list prices to be directly and significantly derived from estimated housing values",

author = "Jim Freeman and Xin Zhao",

year = "2013",

month = jul,

language = "English",

booktitle = "host publication",

note = "The OR Society: OR55 Annual Conference ; Conference date: 03-09-2013 Through 05-09-2013",

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T1 - Real estate valuation: an SEM modelling approach

AU - Freeman, Jim

AU - Zhao, Xin

PY - 2013/7

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N2 - Hedonic regression has long been popular for estimating property values. Nowadays, however, structural equation modeling (SEM) is increasingly seen as a realistic alternative. The session reports on an SEM analysis of a historical dataset for a large Canadian realtor. A two stage approach was adopted for the modelling, the first stage focusing on internal relationships between houses’ structural characteristics; and the second, on housing values and their determinants. Following on, an innovative second order model was developed enabling advertised list prices to be directly and significantly derived from estimated housing values

AB - Hedonic regression has long been popular for estimating property values. Nowadays, however, structural equation modeling (SEM) is increasingly seen as a realistic alternative. The session reports on an SEM analysis of a historical dataset for a large Canadian realtor. A two stage approach was adopted for the modelling, the first stage focusing on internal relationships between houses’ structural characteristics; and the second, on housing values and their determinants. Following on, an innovative second order model was developed enabling advertised list prices to be directly and significantly derived from estimated housing values

M3 - Conference contribution

BT - host publication

T2 - The OR Society: OR55 Annual Conference

Y2 - 3 September 2013 through 5 September 2013

ER -

Real estate valuation: an SEM modelling approach

Abstract

Conference

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