Data mining in real estate appraisal: a model tree and multivariate adaptive regression spline approach
In this paper we adopt two exploratory modelling techniques: Model Trees and Multivariate
Adaptive Regression Splines. The objective is the building of two sale price prediction
models in order to highlight possible market segments not detectable a priori. We show how
these novel procedures can help to understand complex patterns and interactions among
predictors in real estate appraisal.
Adaptive Regression Splines. The objective is the building of two sale price prediction
models in order to highlight possible market segments not detectable a priori. We show how
these novel procedures can help to understand complex patterns and interactions among
predictors in real estate appraisal.
Abstract
In this paper we adopt two exploratory modelling techniques: Model Trees and Multivariate Adaptive Regression Splines. The objective is the building of two sale price prediction models in order to highlight possible market segments not detectable a priori. We show how these novel procedures can help to understand complex patterns and interactions among predictors in real estate appraisal.
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