 |
| Aggregation Bias in Price Indices for
Multi-Family Rental Properties Author: Randall S. Guttery and C. F. Sirmans Start Page: 309 Abstract: This article examines
aggregation bias in price index construction. Specifically, we test whether changes in
values of 2- to 4-unit, multi-family rental housing properties vary systematically in the
same market across property size. Moreover, we examine the time trend differences across
locations within a geographic region for various sized multiplex properties, as well as
investigate how size should be measured. Results suggest that absolute price changes are
significantly different across property size, as determined by living area, and that the
time trend does not differ across locations within a geographic region. Further research
using this methodology is recommended for other property types. |
