COVID‐19 and housing market effects: Evidence from U.S. shutdown orders
利用美国住宅交易微观数据，发现封锁后房价变化不仅取决于人口密度，还与房屋大小和结构密度有关：市中心三卧房均价降约1.4%，郊区涨约1.5%，卧室少的房屋受影响更大，且封锁市场销量显著下降。
Abstract This paper provides novel evidence on pricing effects in housing markets following government shutdown responses to COVID‐19 using microlevel data on U.S. residential property transactions. We find that post‐shutdown pricing effects not only depend on population density but also the size and structural density of properties. The average price of a three‐bedroom property fell by approximately 1.4% in densely populated locations (e.g., downtown) but increased by about 1.5% in low‐density locations (e.g., suburbs) where shutdowns were enacted. The effects are more drastic for properties with fewer bedrooms. We also document a significant decrease in sales for markets under a shutdown.