Real estate and personality

Danny Ben-Shahar*, Roni Golan

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review


This paper explores preferences and choices in the real estate market from a personality perspective. First, we employ micro-level data on individual scores on the Big Five personality test and personal financial real estate preferences to evaluate the role of personality in individual real estate market-related preferences. Empirical results provide solid evidence for an association between personality traits and individual preferences on a series of housing tenure, mortgage, and real estate investment attributes. Moreover, based on cross-sectional state-level aggregate personality scores and macro real estate market indicators, we find evidence indicating that the detected micro-level personality-preferences association conveys macro consequences on real estate market equilibrium outcomes. Research findings thus provide a new perspective for understanding individual preferences and equilibrium outcomes in the real estate market.

Original languageEnglish
Pages (from-to)111-119
Number of pages9
JournalJournal of Behavioral and Experimental Economics
StatePublished - 1 Dec 2014


  • Big five
  • Housing
  • Investments
  • Mortgages
  • Personality traits
  • Preferences
  • Real estate


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