Method for forecasting housing prices using a dynamic error correction model
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United States of America Patent
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Oct 30, 2012
Grant Date -
N/A
app pub date -
Mar 12, 2009
filing date -
Dec 6, 1999
priority date (Note) -
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status (Latency Note)
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Abstract
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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