Ngai, L. Rachel; Sheedy, Kevin D. - 2023
inflows (new listings) and outflows (sales) in explaining the volatility and co-movement of housing-market variables. An 'ins … versus outs' decomposition shows that both inflows and outflows are quantitatively important in understanding fluctuations in …-and-matching model with endogenous inflows and outflows and shocks to housing demand matches many of the stable correlations and predicts …