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Figure 1

Prices as function of buyer arrival rate

14

12

10

8

Retail price of housing
Wholesale price

6

4

2

Number of times market is open per week

49

46

43

40

37

34

31

28

25

22

19

16

13

10

7

4

1

0

Figure 2

Expected number
of weeks to sale

Probability of sale
0.35

3

0.3
2.5

0.25
2

0.2
1.5
0.15

1
0.1

0.5
0.05

0

0
1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49
Number of times market is open per week

Probability of sale

Expected number of weeks to sale