Hohenstatt, Ralf and Käsbauer, Manuel and Schäfers, Wolfgang (2011) "Geco" and its potential for real estate research: Evidence from the US housing market. Journal of Real Estate Research Vol. 33 (Nr. 4).
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Over the past few years, Google econometrics (Geco) turns out to be a powerful tool for research based on individuals rational. Following the seminal work of Ginsberg et al. (2009), this is the second academic journal contribution to be based on search query data from Google Insights for Search (I4S). Existing information on the Home Buying Process is embedded into existing literature on the price-volume relationship in the housing market. The main findings are: I4S subcategories yield inferences about prices and transactions in the near future. While the “Real Estate Agency” subcategory serves as a very robust indicator of transaction volume, "Home Financing" provides interesting insights into the corresponding financing decisions. Therefore, this study contributes towards improving the infor-mational efficiency of a relatively imperfect market and is addressed to policy makers as well as real estate professionals.
|Institutions:|| Business, Economics and Information Systems > Institut für Betriebswirtschaftslehre > Lehrstuhl für Immobilienmanagement (Prof. Dr. Wolfgang Schäfers)|
Business, Economics and Information Systems > IRE|BS > Lehrstuhl für Immobilienmanagement (Prof. Dr. Wolfgang Schäfers)
Business, Economics and Information Systems > IRE|BS
|Research groups and research centres:||Immobilien- und Kapitalmärkte|
|Keywords:||Google, Home buying search process, search query, Google Insights for Search, transaction volume, house price, sentiment|
|Subjects:||300 Social sciences > 330 Economics|
000 Computer science, information & general works > 000 Generalities, Science
|Refereed:||Yes, this version has been refereed|
|Created at the University of Regensburg:||Yes|
|Deposited On:||02 May 2011 13:33|
|Last Modified:||24 Aug 2012 08:45|