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The Virtual Repeat Sale Model for the House Price Index for New Building in China
Department of Statistics, Wuhan University of Technology, Wuhan, China
Department of Statistics, Wuhan University of Technology, Wuhan, China
- 1 Department of Statistics, Wuhan University of Technology, Wuhan, China
- 2 Department of Statistics, Wuhan University of Technology, Wuhan, China
Applied Mathematics·Volume 05 (2014)·Pages 3431–3436·Published 1 December 2014·DOI10.4236/am.2014.521320
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Abstract
By using the characteristics of the new building in China, this article constructs the virtual repeat sale method to produce virtual repeat data which is similar to the repeat sale model on the house price index. Case-Shiller procedure and OFHEO method are used to calculate the house price index for new building in China. A discussion is given and furthering models are needed to take advantage of the virtual repeat sale data.
KeywordsHouse Price IndexVirtual Repeat Sale MethodOFHEO Index
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