The equity REIT index returns were found to Granger cause unsecuritized real estate returns for most of the real estate indices. Results were somewhat mixed for the individual REITs. This paper presents the first empirical examination of the determinants of inter-center variations in shopping center rents. We use weighted least squares estimation to test the relationship between market rents for shopping centers and various independent variables. Jr. Geographic mobility is highly seasonal.
Moves are twice as likely to occur during the summer months as during the winter months.
Summer marriages and school calendars contribute to the seasonality in mobility. But most people who move are neither newlyweds nor parents of school-age children. The author also presents evidence that the seasonality has been stable over the past quarter century. These movers are motivated by the greater selection of units available and consequently the better chance of an optimal match, and by the lower search costs of finding a good match. Housing suppliers accommodate this peaking in order to shorten their marketing periods and to secure higher prices from consumers who will pay a premium for housing that closely matches their needs.