Listing price, time on market, and ultimate selling price: causes and effects of listing price changes.(Statistical Data Included) From: Real Estate Economics | Date: June 22, 2002| Author: Knight, John R. | COPYRIGHT 2002 American Real Estate & Economics Association. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group.Copyright information

Information about price changes during a home's marketing period is typically missing from data used to investigate the listing price, selling price, and selling time relationship. This paper incorporates price revision information into the study of this relationship. Using a maximum-likelihood probit model, we examine the determinants of list price changes and find evidence consistent with the theory of pricing behavior under demand uncertainty. Homes most likely to undergo list p...

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