Descriptive analysis of nonstationarity of the time series on real estate market
Vol. 8, No 2, 2015
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Sławomir Kulesza
Warmia and Mazury University in Olsztyn Poland
kulesza@matman.uwm.edu.pl |
Descriptive analysis on nonstationarity of the time series on real estate market |
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Mirosław Belej
Warmia and Mazury University in Olsztyn Poland
caprio@uwm.edu.pl |
Abstract. The paper aims at analyzing the dynamics of the housing prices treated as a time- series of a stochastic process. Obtained results show that in a longer perspective these prices form a nonstationarity process characterized by time-variant statistical descriptors. On the other hand, the prices analyzed within much shorter time windows appear to remain stationary, and are found to be developed in a random walk process. In such a case, the price distribution is close to normal distribution |
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Received: April, 2015 1st Revision: May, 2015 Accepted: August, 2015 |
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DOI: 10.14254/2071- 8330.2015/8-2/3 |
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JEL Classification: C51, R30, R32 |
Keywords: real estate market, dynamics, nonstationarity |
