An Investigation of the Major Influences of Residential Liquidity: A Multivariate Approach

The liquidity of the single-family home has been potentially compromised by prevailing conventional mortgage market conditions in the 1980s. The primary objectives of this study are to investigate the degree of liquidity of a given residence, defined to incorporate both the "recovery-of-value" and "timeliness" dimensions, and the major influences upon such liquidity. The multivariate techniques of canonical correlation and multiple discriminant analysis are employed to identify those property characteristics and/or prevailing mortgage market conditions that most appreciably influence the liquidity of a residential listing. Copyright American Real Estate and Urban Economics Association.

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