Research on the Influencing Factors of Housing Prices Based on Multiple Regression: Taking Chongqing as an Example

With the continuous growth of China’s overall economy and the improvement of people’s quality of life, housing prices in China are also constantly increasing. Housing prices are closely related to individual family decision-making and the national economy and have always been a hot issue in the whole society. Chongqing is the fourth municipality reporting directly to the Chinese central government. And also the economic and political center of the Southwest region. For the entire real estate market, the analysis of the factors that affect housing prices in Chongqing is of great importance. Based on relevant information from the real estate sector in Chongqing, China, from 2000 to 2021, this paper takes the average room rate of commercial housing in Chongqing as the dependent variable, and selects eight factors, including consumer price index and population, as independent variables. Two main components are selected by analyzing the main components and a multiple regression model is developed. Research shows, among the eight variables, GDP, per capita disposable income, average wage per job, and per capita consumption expenditure of urban residents have significant impacts on average room rate.