주택시장 참여자 심리와 주택시장의 관계

• 영문명: A Study of the Relationship Between Agents’ Sentiment and Housing Market
• 발행기관: 한국지역개발학회
• 저자명: 임재만(Lim, Jae Man) 임미화(Lim, Mi Hwa)
• 간행물 정보: 『한국지역개발학회지』제28권 제3호, 147~164쪽, 전체 18쪽
• 주제분류: 사회과학 > 지역개발
• 파일형태: PDF
• 발행일자: 2016.08.30

영문 초록

This paper examines the relationship between customers’ and developers’ sentiment and price, trading volume percentage changes. The related previous studies used the data with one agent, especially customers in housing markets. We use the composite index with principal component analysis, and compare the results to those of analysis with each index. The results are as followings. First, there are strong positive effects of sentiment change on trading volume change. Second, there is no statistically significant relationship between sentiment change and price change. Third, if we connect this result with the information effect of trading volume change to price change from previous studies, we could provide the new hypothesis, the information channel from sentiment to trading volume and trading volume to price. Finally, using composite index instead individual agent’s sentiment index could provide more insights on housing market fluctuation.

키워드

주택심리지수(Housing Sentiment Index) 건설경기실사지수(Construction Business Survey Index) 주택가격(Housing Prices) 주택거래량(Housing Trading Volume)