House price seasonality, market activity, and the December discount
Peer reviewed, Journal article
Published version
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https://hdl.handle.net/11250/3114722Utgivelsesdato
2023Metadata
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- Publikasjoner fra Cristin [3362]
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Sammendrag
In Norway, house prices tend to drop in December. This regularity is persistent across regions and over time. I exploit a transaction data set with high temporal granularity to document and estimate the size of the December discount. I control for a composition effect using a hedonic model and I control for unobserved heterogeneity by using repeat sales and involving ask prices and appraisal values. By segmenting into submarkets, I search for determinants of price seasonality. The evidence suggests that the December effect is linked to time-on-market for each unit and transaction volumes within each submarkets.