The Spectral Analysis of Housing Price Cycle——A Case of Wuhan

The purpose of this paper is to explore the relationship of housing price cycles between the new and existing housing market by using the housing price data of eight districts in Wuhan.The empirical study shows that the price cycles of new housing are shorter than that of existing housing,and the new housing prices fluctuate frequently in the context of new housing transaction-oriented market structure.The new housing prices are leading or synchronous with the existing mar-ket,not consistent with the foreign experiences.The government should control the real estate speculation strictly,adjust the housing structure,increase in new housing supply,and improve the stock house market and other ways to strengthen market regulation.