An Empirical Examination of Traditional Neighborhood Development

Authors

Charles C. Tu, California State University - FullertonFollow
Mark Eppli, Marquette UniversityFollow

Document Type

Article

Language

eng

Format of Original

17 p.

Publication Date

Fall 2001

Publisher

Blackwell Publishing

Source Publication

Real Estate Economics

Source ISSN

1080-8620

Abstract

This study analyzes the impact of the new urbanism on single-family home prices. Specifically, we explore the price differential that homebuyers pay for houses in new urbanist developments relative to houses in conventional suburban developments. Using data on over 5,000 single-family home sales from 1994 to 1997 in three different neighborhoods, hedonic regression results reveal that consumers pay more for homes in new urbanist communities than those in conventional suburban developments. Further analyses indicate that the price premium is not attributable to differences in improvement age and other housing characteristics.

Comments

Accepted version. Real Estate Economics, Vol. 29, No. 3 (Fall 2001): 485-501. DOI. © 2001 Blackwell Publishing. Used with permission.

Mark Eppli was affiliated with George Washington University at time of publication.

Recommended Citation

Tu, Charles C. and Eppli, Mark, "An Empirical Examination of Traditional Neighborhood Development" (2001). Finance Faculty Research and Publications. 3.
https://epublications.marquette.edu/fin_fac/3