COVID-19 and housing market effects: Evidence from US shutdown orders
Date of this Version
12-15-2021
Document Type
Article
Rights
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Abstract
This paper provides novel evidence on pricing effects in housing markets following government shutdown responses to COVID-19 using microlevel data on U.S. residential property transactions. We find that post-shutdown pricing effects not only depend on population density but also the size and structural density of properties. The average price of a three-bedroom property fell by approximately 1.4% in densely populated locations (e.g., downtown) but increased by about 1.5% in low-density locations (e.g., suburbs) where shutdowns were enacted. The effects are more drastic for properties with fewer bedrooms. We also document a significant decrease in sales for markets under a shutdown.
Recommended Citation
D'Lima, Walter; Lopez, Luis Arturo; and Pradhan, Archana, "COVID-19 and housing market effects: Evidence from US shutdown orders" (2021). Coronavirus Research at FIU. 64.
https://digitalcommons.fiu.edu/covid-19_research/64
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