An Empirical Analysis of Effect of Housing Curb Appeal on Sales Price of Newer Houses

Chen, Jun; Evans-Cowley, Jennifer S.; Rutherford, Ronald C.; Stanley, Brooke W.
November 2013
International Research Journal of Applied Finance;Nov2013, Vol. 4 Issue 11, p1407
Academic Journal
This paper presents an empirical analysis of the effect of housing curb appeal on the sales price of newer houses. A regression model is estimated to examine the relationship between housing curb appeal and sales prices using a sample of 59 houses from six cities in the Dallas-Fort Worth metropolitan area. To obtain a measure of attractiveness, the fifty-nine houses were rated by 38 respondents. Our results indicate that for each one-point increase in the mean attractiveness rating (on a seven-point scale) there is an associated 7.7 percent increase in the sales prices. The impact on listing price is also significant, with an associated 3.9 percent increase in asking price for each one-point increase in the composite attractiveness rating. The empirical results support the belief that exterior housing appearance is a significant factor in the value of houses.


Related Articles

  • PRICE WATCH.  // Mortgage Banking;Oct2013, Vol. 74 Issue 1, p151 

    A table representing the worst performing metropolitan statistical areas (MSAs) in the U.S. in case of home prices between 2012 and 2013 is presented which include Utica-Rome, New York, Elmira, New York and Toledo, Ohio.

  • ON THE RISE. Johnson, Tom // MinnesotaBusiness;May2013, Vol. 23 Issue 5, p6 

    The article offers information on the increase of 60 percent in the number of new residential construction permits for single family homes in the twin cities metropolitan area in the U.S. as reported by the organization Builders Association of the Twin Cities.

  • Generalized monotonic regression based on B-splines with an application to air pollution data. Florian Leitenstorfer; Gerhard Tutz // Biostatistics;Jul2007, Vol. 8 Issue 3, p654 

    In many studies, it is known that one or more of the covariates have a monotonic effect on the response variable. In these circumstances, standard fitting methods for generalized additive models (GAMs) generate implausible results. A fitting procedure is proposed that incorporates monotonicity...

  • Suburbs Lead Construction In Metro Areas, Study Says. BROCKMAN, JOSHUA // American Banker;12/16/1999, Vol. 164 Issue 240, p16 

    Reports on the dominance of home building in suburban areas in housing construction in United States metropolitan areas as of December 1999. Scarcity of home construction in densely developed cities; Findings of the study conducted by Alexander von Hoffman, a Harvard University senior research...

  • PROS AND CONS OF NEW CONDOS. Kuchment, Anna; Raymond, Joan // Newsweek;1/15/2007, Vol. 149 Issue 3, p68 

    The prestige factor and choice options of purchasing a new condominium in an urban setting are discussed. The article offers advice to help condominium shoppers decide if new construction is a good choice. The author suggests checking up on the developer first, being flexible throughout the...

  • Grim year ahead. Hazelton, Scott // International Construction;Apr2009, Vol. 48 Issue 3, p18 

    The article reports on the significant downturn of the non-residential construction as economic recession deepens in the U.S. It notes the strong demand for extra retail, office and manufacturing space. Job cuts have led to rising vacancy rates in most metropolitan areas. Global insights have...

  • Slow but Steady. Crowe, David // Builder: The Magazine of the National Association of Home Builde;Jun2013, Vol. 36 Issue 6, p50 

    The article reports that the sales of houses in 2013 is increasing but at a small speed after recession. As mentioned, the sales rose by 19 percent in 2012 as compared with that of 2011. It mentions that the sales can take 38 months in reaching bottom whereas the normal speed of reaching bottom...

  • House sales per surveyor hits 21.3. Ray, Devraj // Mortgage Strategy (Online Edition);1/22/2014, p13 

    The article reports that the number of house sales per chartered surveyor in Great Britain reached 21.3 in December 2013, the highest level since March 2008, according to the Royal Institution of Chartered Surveyors' residential market survey, with house sales and price increases seen through 2014.

  • Local Home Sales Increase, Median Price Declines. Allen, Mike // San Diego Business Journal;1/30/2012, Vol. 33 Issue 5, p3 

    The article offers information on the research conducted by Dataquick related to the sales increase of houses in San Diego, California in 2012.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics