Analysis of house price forecast based on New Haven housing market

The fluctuation of residential housing values hinges upon a variety of factors, but this paper postulates that the most important ones are related to the geographics and the size of land area. Further, this report aims to provide a regression model to analyze variables affecting residential properties in the city of New Haven, CT based on a selection of housing variables. The raw data are directly sourced from the New Haven Tax official database and are filtered to contain determinants of only residential houses or condominiums. The construction of a linear regression model attests to the efficacy of each selected variable and indicates the positive relationship between the properties of the houses with a complex of variables including the proposed ones. The model can further make predictions regarding the values of each property. On the other hand, the model itself has intrinsic limitations, but this project works to outline an optimistic research direction into other practical areas.