New method revolutionizes weekly house price indices for better accuracy
The article presents a method for calculating weekly house price indices using a hedonic imputation approach. This method involves using a spatio-temporal model to estimate house prices based on property characteristics and location. The researchers found that this approach outperformed other methods in computing house price indices at a weekly frequency, showing that weekly indices are more sensitive to the choice of hedonic method compared to annual or quarterly indices. This means that the method used to calculate house price indices can have a significant impact on the results when done on a weekly basis.