Concentration and Market Structure in Local Real Estate Markets
Identifieur interne : 000179 ( Main/Exploration ); précédent : 000178; suivant : 000180Concentration and Market Structure in Local Real Estate Markets
Auteurs : Jason Beck [États-Unis] ; Frank Scott [États-Unis] ; Aaron Yelowitz [États-Unis]Source :
- Real Estate Economics [ 1080-8620 ] ; 2012-09.
English descriptors
- Teeft :
- Additional cities, Anecdotal evidence, Area county, Average listings, Average number, Banker, Beck, Blue springs, Broker, Brokerage, Central city, Coldwell, Coldwell banker, Commission rates, Concentration ratio, Consumer reports, Data collection, Decision rules, Different measures, Discount brokerages, Diverse markets, Dollar volume, Empirical evidence, Entire period, Entire year, Estate, Estate agent, Estate agents, Estate brokerage, Estate brokerage industry, Estate brokerage services, Estate century, Estate market, Estate markets, Federal trade commission, Firm name, Firm sales share, Firms firms, Government accountability, Grand rapids, Hhis, Home builders, Home sellers, Horizontal merger guidelines, Housing market outcomes, Individual market, Keller, Large markets, Large number, Larger markets, Largest firm, Largest market share, Limited evidence, Listing, Listing agent, Listing brokers, Little rock, Local markets, Longitudinal analysis, Longitudinal data, Louisville, Market concentration, Market share, Market shares, Market size, Market structure, Market structures, Market transactions, Medium markets, Metropolitan area, Metropolitan areas, Moines, National association, Next section, Next year, Ongoing concern, Other hand, Particular market, Political economy, Preferred properties, Price competition, Primary data, Real estate, Real estate agents, Real estate brokerage, Real estate brokerage industry, Real estate brokerage market, Real estate brokers, Real estate courses, Real estate industry, Real estate markets, Real estate professionals, Real estate research, Real estate transactions, Realtor, Realtors century, Realtors keller williams realty, Realty, Reece nichols, Sales associates, Sales price, Salt lake city, Semonin, Semonin realtors, Size distribution, Small markets, Smaller markets, State level, Total commission, Total listings, Transactions, Travel agents, Urban economics association, Variable component, Wood associates, Yelowitz, Yelowitz table, Yuba city, Zumpano.
Abstract
The competitiveness of the residential real estate brokerage industry has attracted much attention. Anecdotal evidence suggests some local markets are concentrated, yet no systematic market structure study has been conducted. We collected cross‐sectional data on real estate brokers in 90 diverse markets across the United States and collected longitudinal data for Louisville, Kentucky. In medium and large markets, no evidence exists that market concentration might create problems for competition. Small markets, on average, have higher Herfindahl‐Hirschman Indexes than medium and large markets. The longitudinal data reveal that many small brokers sell a house or two one year and none the next year.
Url:
DOI: 10.1111/j.1540-6229.2011.00322.x
Affiliations:
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estate brokerage industry</term><term>Real estate brokerage market</term><term>Real estate brokers</term><term>Real estate courses</term><term>Real estate industry</term><term>Real estate markets</term><term>Real estate professionals</term><term>Real estate research</term><term>Real estate transactions</term><term>Realtor</term><term>Realtors century</term><term>Realtors keller williams realty</term><term>Realty</term><term>Reece nichols</term><term>Sales associates</term><term>Sales price</term><term>Salt lake city</term><term>Semonin</term><term>Semonin realtors</term><term>Size distribution</term><term>Small markets</term><term>Smaller markets</term><term>State level</term><term>Total commission</term><term>Total listings</term><term>Transactions</term><term>Travel agents</term><term>Urban economics association</term><term>Variable component</term><term>Wood associates</term><term>Yelowitz</term><term>Yelowitz table</term><term>Yuba city</term><term>Zumpano</term></keywords></textClass></profileDesc></teiHeader><front><div type="abstract" xml:lang="en">The competitiveness of the residential real estate brokerage industry has attracted much attention. Anecdotal evidence suggests some local markets are concentrated, yet no systematic market structure study has been conducted. We collected cross‐sectional data on real estate brokers in 90 diverse markets across the United States and collected longitudinal data for Louisville, Kentucky. In medium and large markets, no evidence exists that market concentration might create problems for competition. Small markets, on average, have higher Herfindahl‐Hirschman Indexes than medium and large markets. The longitudinal data reveal that many small brokers sell a house or two one year and none the next year.</div></front></TEI><affiliations><list><country><li>États-Unis</li></country></list><tree><country name="États-Unis"><noRegion><name sortKey="Beck, Jason" sort="Beck, Jason" uniqKey="Beck J" first="Jason" last="Beck">Jason Beck</name></noRegion><name sortKey="Scott, Frank" sort="Scott, Frank" uniqKey="Scott F" first="Frank" last="Scott">Frank Scott</name><name sortKey="Yelowitz, Aaron" sort="Yelowitz, Aaron" uniqKey="Yelowitz A" first="Aaron" last="Yelowitz">Aaron Yelowitz</name></country></tree></affiliations></record>Pour manipuler ce document sous Unix (Dilib)
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