Table 4 Effects of Neighborhood Investment Activities on Housing Price Dispersion.

From: Investors matter when prices are dispersed: the effects of investor activities on housing price dispersion

 

Dependent variable: Price Dispersion

 

(1)

(2)

(3)

(4)

Average Neighborhood Investment Activities (within 1 mile radius)

−0.0164*** (0.006)

−0.0149** (0.007)

  

Average Neighborhood Investment Activities (within 2 miles radius)

  

−0.0463* (0.026)

−0.0487* (0.029)

Control

No

Yes

No

Yes

District-Year-Quarter FE

Yes

Yes

Yes

Yes

Adjusted R2

0.25

0.27

0.25

0.26

Observations

13,085

11,490

13,292

11,661

  1. The dependent variable is housing price dispersion at the estate level during a specific year-quarter, expressed in log form. Robust standard errors (in parentheses) are adjusted for clustering at the district-year-quarter level. The variable of interest is the average proportion of investment properties relative to the total trading volume in nearby housing estates within a specified radius, also expressed in log form. Control variables include trading volume, the lagged estate-specific residential price index (from Eq. 1), lagged liquidity, lagged subregional market yields, and lagged housing supply. *, **, *** represent significance levels of 10%, 5%, and 1%, respectively.
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