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| An Investigation of Buyer Search in the
Residential Real Estate Market under Different Market Conditions Author: Edward A. Baryla, Jr., Leonard V. Zumpano and Harold W. Elder Start Page: 75 Abstract: The purpose of
this research is to examine buyer search under different market conditions. We conduct a
survival regression analysis of survey data generated by the National Association of
Realtors for 1988, 1991 and 1993. We find, in all instances, that economic conditions are
the dominant factor influencing search duration. Some evidence does indicate, however,
that search is influenced by interest rates. Additionally, the evidence suggests that the
probability of finding a home increases for broker-assisted search, while this is not the
case for self-conducted search. |
