\begin{tabular}{lp{2.7cm}lp{2.3cm}p{4.6cm}}
\toprule
Symbol & Parameter & Value & Units & Illustrative justification \\
\midrule
$r$ & discount rate & 0.04 & per year & real rate of 4\%; standard in housing search models \\
$s$ & listing inflow & 1.0 & listings per year & normalisation \\
$\delta$ & withdrawal hazard & 0.50 & per year & 10--20\% of listings withdrawn at baseline hazards \\
$w_0$ & own-use value on withdrawal & 0.80 & units of $q$ & gains from trade of about 20\% plus match component \\
$[c_L,c_H]$ & carrying-cost support & [0.02, 0.30] & share of value per year & maintenance and taxes to double housing / distress \\
$F$ & carrying-cost distribution & Beta(2,4), 9 types & -- & right-skewed: most sellers patient, a minority urgent \\
$k$ & buyer entry cost & 0.02 & units of $q$ & search set-up, inspections \\
$\kappa_b$ & buyer flow search cost & 0.05 & units of $q$ per year & temporary housing, time; comparable to seller carrying costs \\
$\phi$ & qualification probability & 0.85 & per meeting & pre-approval screen \\
$A$ & matching efficiency & 4.5 & meetings per year at $\theta=1$ & meetings = serious offers, not viewings \\
$\alpha$ & matching elasticity (buyers) & 0.50 & -- & symmetric Cobb--Douglas \\
$\beta$ & seller Nash share & 0.50 & -- & symmetric; Hosios value $1-\alpha$ \\
$G$ & match-value distribution & $N(1.0,0.10^2)$ on $[0.7,1.3]$ & units of $q$ & log-concave (IFR); 10\% dispersion of buyer valuations \\
$\pi,\nu,\phi_m$ & financing extension & 0.30, 12, 0.85 & --, per year, -- & cash share; one-month approval; approval probability \\
\bottomrule
\end{tabular}