The Definition and Identification of Housing Submarkets

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Beyond implicit prices: recovering theoretically consistent and transferable values for noise avoidance from a hedonic property price model (2007, background): “Watkins (2001) argues that the property market comprises households that form “consumer groups” and a housing stock that comprises distinct “product groups”.”
Modeling Spatial Dimensions of Housing Prices in Milwaukee, WI (2007, background): “…early 1990s, largely due to the advancement in spatial statistics and spatial econometrics (eg Anselin, 1988; Cliff and Ord, 1981; Griffith, 1988; Upton and Fingleton, 1985), studies on the hedonic model explicitly took into account the inherent spatial characteristics of housing dataönamely,…”
The Spatial Proximity of Metropolitan Area Housing Submarkets (2007, background): “Watkins (2001) provides a detailed review of the alternative approaches that housing economists have employed for characterizing housing submarkets.”