Housing attribute preferences in El Paso

This study uses twenty-two explanatory variables and a stratified random sample of 562 housing units to estimate a hedonic pricing model for the El Paso housing market. Previous studies report that structural characteristics are more influential than locational factors in home valuation. Results obtained indicate that list price reacts more elastically to a home's structural characteristics than to its locational factors. In this study indirect evidence of the importance of international commerce in El Paso is documented. Whether the results reported are unique to a large border economy like El Paso is unknown.