Polytechnic University of Valencia Congress, CARMA 2020 - 3rd International Conference on Advanced Research Methods and Analytics

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Internet searches as a leading indicator of house purchases in a subnational framework: the case of Spain
Concha Artola, Jorge Herrera de la Cruz

Last modified: 10-07-2020

Abstract


Most people use web search tools to collect information on goods or
services they intend to buy. Given the prominence of Google among
the search engines (93% in the European market as of August 2019)
and the availability of Google trends (GT) as a tool packaging some
characteristics of those searches (geography, topic, categories, among
others) it is only natural to use this instrument in order assess trends in
the market.
There are different ways to build Google indicators. One approach
(Askitas, N, 2015 1) build two different indicators to approximate
supply and demand in the North American housing market. This
procedure is not feasible in the Spanish case due to technical reasons,
which leads us to build indicators that reflect the real estate market
stance without trying to break down its components.To build up these
indicators, we use the GT’s TOPIC option that approximates the
concept (housing, purchase, sale ...) instead of the exact wordings


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