Covid-19 impact on US housing markets: Evidence from spatial regression models
Date
1/10/2022
Authors
Lee, Jim
Huang, Yuxia
Journal Title
Journal ISSN
Volume Title
Publisher
Taylor and Francis Online
Abstract
This paper empirically investigates the conventional wisdom that urban residents have reacted to the Covid-19 pandemic by fleeing city centres for the suburbs. A conventional panel model of US ZIP code-level data provides mixed evidence in support of a shifting housing preference for more space or neighbourhoods farther from the urban core. Regressions accounting for spatial dependence and spatial heterogeneity show strong support of an urban flight within metro areas, but this local phenomenon is uneven across broad regions of the United States. The finding of geographical disparity underscores both the local as well as the regional nature of housing market conditions.
Description
Keywords
housing markets, spatial dependence, spatial heterogeneity, spatial autoregression, geographically weighted regression
Sponsorship
Rights:
Attribution-NonCommercial 4.0 International
Citation
Lee, J. and Huang, Y., 2022. Covid-19 impact on US housing markets: evidence from spatial regression models. Spatial Economic Analysis, pp.1-21.