Task - Using publically available data for the national factors that impact supply and demand of homes in US, build a model to study the effect of these variables on home prices.
Data_set_Approch - the following data chose for research
Unemployment Rate Per Capita GDP Median Household Income Construction Prices CPI Interest Rates Number of new houses supplied Working Population Urban Population Percentage of population above 65 Housing subsidies Number of Households As a proxy to the home prices, S&P CASE-SHILLER Index is used.
Most of the data is downloaded from [https://fred.stlouisfed.org/].
Data for all the variables is downloaded, preprocessed and combined to create a datset. Data for different variables had different frequencies. So, to combine the data, necessary interpolations are made.
Following sources were used to gather data -
CASE-SCHILLER Home Price Index - https://fred.stlouisfed.org/series/CSUSHPISA
Interest rates - https://fred.stlouisfed.org/series/FEDFUNDS
Unemployment rate - https://fred.stlouisfed.org/series/UNRATE
Income - https://fred.stlouisfed.org/series/DSPIC96
Per Capita GDP - https://fred.stlouisfed.org/series/A939RX0Q048SBEA
New Constructed units - https://fred.stlouisfed.org/series/COMPUTSA
Construction price index - https://fred.stlouisfed.org/series/WPUSI012011
percent urban population - https://data.worldbank.org/indicator/SP.URB.TOTL.IN.ZS?end=2021&locations=US&start=2001
Housing Subsidies (Federal) - https://fred.stlouisfed.org/series/L312051A027NBEA
Total households - https://fred.stlouisfed.org/series/TTLHH