Vacancy Duration and Market Condition

C. Peter Rydell

Published 1979

Proposes annual average vacancy duration as a better measure of housing market condition than vacancy rate in cross-sectional analyses. The answer to the vacancy survey question, "How long has this vacancy existed?" depends as much on the variance of the vacancy duration distribution as the mean, so it does not provide a direct estimate of average vacancy duration. Nevertheless, the answer to that question is useful. Information on the variance of vacancy durations shows that housing submarkets exist and have very different market conditions.

Document Details

Citation

Chicago Manual of Style

Rydell, C. Peter, Vacancy Duration and Market Condition. Santa Monica, CA: RAND Corporation, 1979. https://www.rand.org/pubs/notes/N1135.html.
BibTeX RIS

This publication is part of the RAND note series. The note was a product of RAND from 1979 to 1993 that reported miscellaneous outputs of sponsored research for general distribution.

This document and trademark(s) contained herein are protected by law. This representation of RAND intellectual property is provided for noncommercial use only. Unauthorized posting of this publication online is prohibited; linking directly to this product page is encouraged. Permission is required from RAND to reproduce, or reuse in another form, any of its research documents for commercial purposes. For information on reprint and reuse permissions, please visit www.rand.org/pubs/permissions.

RAND is a nonprofit institution that helps improve policy and decisionmaking through research and analysis. RAND's publications do not necessarily reflect the opinions of its research clients and sponsors.