spb/wp9_uqo Public
UQO Working Paper No. 9 — A grand hedonic model of the Canadian housing market: decomposing structure and location value.
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1\begin{table}[t]\centering2\caption{Out-of-sample valuation performance (80/20 split)}3\label{tab:oos}4\begin{threeparttable}5\begin{tabular}{lc}6\toprule7Metric & Value \\8\midrule9Training listings & 112,732 \\10Test listings & 28,187 \\11Out-of-sample $R^2$ (log price) & 0.764 \\12RMSE (log points) & 0.282 \\13Median absolute \% error & 15.8\% \\14Mean absolute \% error & 22.5\% \\15Share priced within $\pm$10\% & 33.8\% \\16Share priced within $\pm$20\% & 59.5\% \\17\bottomrule18\end{tabular}19\begin{tablenotes}\footnotesize\item Notes: Model trained on a random 80\% of listings and scored on the held-out 20\% (restricted to neighbourhoods observed in training). Prices back-transformed with Duan's smearing estimator.20\end{tablenotes}21\end{threeparttable}22\end{table}23