Influencing Factors of Housing Price in New York-analysis: Based on Excel Multi-regression Model

Yuqi Yan

2022

Abstract

Since the beginning of 21th century, the real estate market in New York has experienced rapid growth and the current housing price index is more than doubled from 2000. To figure out what can be related to the boom of the real estate market, this paper investigates the factors that influence the housing price index in New York. Specifically, the investigation focuses on data of recent 20 years (collected from ECONOMIC RESEARCH of FRED), using EXCEL to construct a linear regression model to find the correlation between the housing price index and four potential main factors-resident population, per capita personal income, GDP and home ownership rate. Also, the significance of each factor in the linear regression model is also considered and the improved model is based on eliminating non-significant factors. The result shows the housing price index has a strong correlation with GDP and home ownership rate. For this result, a further analysis based on macroeconomics cycle and housing bubble indicates that the housing price in New York may not correspond to the GDP growth in recession or recovery period. For home ownership rate, it can affect the housing price independently, but it is a significant factor that influences the rate of change in housing price.

Paper Citation

in Harvard Style

Yan Y. (2022). Influencing Factors of Housing Price in New York-analysis: Based on Excel Multi-regression Model. In Proceedings of the International Conference on Big Data Economy and Digital Management - Volume 1: BDEDM, ISBN 978-989-758-593-7, pages 1005-1009. DOI: 10.5220/0011362000003440

in Bibtex Style

@conference{bdedm22,
author={Yuqi Yan},
title={Influencing Factors of Housing Price in New York-analysis: Based on Excel Multi-regression Model},
booktitle={Proceedings of the International Conference on Big Data Economy and Digital Management - Volume 1: BDEDM,},
year={2022},
pages={1005-1009},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0011362000003440},
isbn={978-989-758-593-7},
}

in EndNote Style

TY - CONF

JO - Proceedings of the International Conference on Big Data Economy and Digital Management - Volume 1: BDEDM,
TI - Influencing Factors of Housing Price in New York-analysis: Based on Excel Multi-regression Model
SN - 978-989-758-593-7
AU - Yan Y.
PY - 2022
SP - 1005
EP - 1009
DO - 10.5220/0011362000003440