Subject. The use of multifactor models as a method of studying the influence of price-forming factors on the price of residential real estate. Objectives. Development of recommendations for improving the traditional algorithm for constructing models reflecting the dependence of prices in the residential real estate market on various factors. Methods. Methods of economic and mathematical modeling were used. Results. The necessity of using a limited set of factors in modeling is substantiated and a list of such factors is determined: average per capita incomes of citizens, inflation rates, weighted average mortgage rates. The procedure for collecting initial data for modeling is described, involving the use of publicly available sources. Proposals have been developed for choosing the optimal model based on a comparison of their quality indicators, as well as based on the premise of simplifying the models as much as possible (while maintaining quality indicators at a sufficient level). Conclusions. The proposed calculation procedure has been tested using the example of the primary and secondary residential real estate markets in the Irkutsk region. Based on the simulation results, it is concluded that the factors included in the model have a very high degree of influence on the average prices of residential real estate. According to the degree of influence, the factors are distributed (in descending order) as follows: average per capita income, mortgage rates, and inflation. In some cases, it is advisable to build a two-factor model with the exclusion of the inflation factor (linear model). Linear models showed the highest accuracy.
Keywords: residential real estate market, modeling, real estate market analysis, average price, price-forming factors
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