TITLE

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

AUTHOR(S)
Chen, Jun; Evans-Cowley, Jennifer S.; Rutherford, Ronald C.; Stanley, Brooke W.
PUB. DATE
November 2013
SOURCE
International Research Journal of Applied Finance;Nov2013, Vol. 4 Issue 11, p1407
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
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.
ACCESSION #
92530647

 

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