Method for forecasting house prices using a dynamic error correction model

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United States of America Patent

PATENT NO 7509261
SERIAL NO

09728061

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ATTORNEY / AGENT: (SPONSORED)

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Abstract

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A system and method for forecasting a price of a property in a first housing sub-market based on data related to a second housing sub-market are described. A price index is derived for the second housing sub-market, and an error correcting function is calculated for the first housing sub-market. A price index for the first housing sub-market is derived from the second sub-market price index and the error correcting function. An estimate of the price of the price of the property in the first housing sub-market is then provided. The estimate of the price can be used as the basis for an economic decision.

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Patent Owner(s)

Patent OwnerAddress
STEVEN MNUCHIN UNITED STATES SECRETARY OF THE TREASURY AND SUCCESSORS THERETO1500 PENNSYLVANIA AVENUE NW WASHINGTON DC 20220
ANDREI IANCU UNDER SECRETARY OF COMMERCE FOR INTELLECTUAL PROPERTY AND DIRECTOR OF THE UNITED STATES PATENT AND TRADEMARK OFFICE AND SUCCESSORS THERETO1401 CONSTITUTION AVENUE NW WASHINGTON DC 20230
ASHLEY MOODY FLORIDA OFFICE OF THE ATTORNEY GENERAL AND SUCCESSORS THERETOSTATE OF FLORIDA PL-01 THE CAPITOL TALLAHASSEE FL 32399-1050
LAUREL M LEE FLORIDA SECRETARY OF STATE AND SUCCESSORS THERETO500 SOUTH BRONOUGH STREET R A GRAY BUILDING TALLAHASSEE FL 32399
TIMOTHY E GRIBBEN COMMISSIONER FOR BUREAU OF THE FISCAL SERVICE AGENCY OF THE UNITED STATES DEPARTMENT OF THE TREASURY AND SUCCESSORS AND ASSIGNS THERETO3201 PENNSY DRIVE BUILDING E LANDOVER MD 20785
JEANETTE NÚÑEZ LIEUTENANT GOVERNOR OF FLORIDA AND SUCCESSORS THERETO400 S MONROE ST TALLAHASSEE FL 32399
HEUER JOAN D800 NORTH MAIN STREET UNIT 682 BUSHNELL FL 33513

International Classification(s)

Inventor(s)

Inventor Name Address # of filed Patents Total Citations
McManus, Douglas Alexander Bethesda, US 3 49
Mumey, Sol T Edmonton, CA 4 188

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