Macro-Determinants of Time on the Market

  • July 3, 1992
  • • Written by: Paul K. Asabere Forrest E. Huffman

Spring/Summer 1992, Vol 17, No 1

Abstract: Time on the Market (TOM) is a function of supply and demand in real estate markets and a measure of real estate market activity. A data set of 337 urban, suburban and rural residential sales was used to examine the effect of macro-economic variables on TOM. The study controlled for housing attributes, neighborhood condition, location and broker pricing.