Research on the Prediction and Influencing Factors of House Price Based on Regression Analysis Model

Jiaxin Zhang

doi:10.54691/bcpbm.v34i.3136

Authors

Jiaxin Zhang

DOI:

https://doi.org/10.54691/bcpbm.v34i.3136

Keywords:

House price; Regression model; Factors analysis.

Abstract

To analyze what factors may have an impact on house price, this research used the house sales information from king county in U.S from May 2014 to May 2015 including house prices and 16 other factors to see whether they are correlated with house price or not. To minimize the error the research pre-processes the initial data and runs an endogeneity analysis among the independent variables. The research used single regression models along with multiple regression models to analyze the data. The research found out that the square feet of the living and the surrounding environment as well as the grade of the house are highly correlated with the house price. The research then suggests that the government should pay attention to these factors when building a house and the real estate company should adjust their marketing strategy based on this model in order to promote the overall value of the house.

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