The Infona portal uses cookies, i.e. strings of text saved by a browser on the user's device. The portal can access those files and use them to remember the user's data, such as their chosen settings (screen view, interface language, etc.), or their login data. By using the Infona portal the user accepts automatic saving and using this information for portal operation purposes. More information on the subject can be found in the Privacy Policy and Terms of Service. By closing this window the user confirms that they have read the information on cookie usage, and they accept the privacy policy and the way cookies are used by the portal. You can change the cookie settings in your browser.
This article highlights the role of land and housing submarkets in the construction of aggregate house price indexes and in the estimated value of the housing stock. We document idiosyncratic house price appreciation and sales volumes across submarkets within metropolitan areas that result in a sample of sold homes that are representative neither of the housing stock nor its appreciation over time...