TITLE:
The Virtual Repeat Sale Model for the House Price Index for New Building in China
AUTHORS:
Weihua Jin, Shengping Jin
KEYWORDS:
House Price Index, Virtual Repeat Sale Method, OFHEO Index
JOURNAL NAME:
Applied Mathematics,
Vol.5 No.21,
December
11,
2014
ABSTRACT: By using the characteristics of the new building in China, this article constructs the virtual repeat sale method to produce virtual repeat data which is similar to the repeat sale model on the house price index. Case-Shiller procedure and OFHEO method are used to calculate the house price index for new building in China. A discussion is given and furthering models are needed to take advantage of the virtual repeat sale data.