Individually unit price signals are indicated as infrequently as once a century. In practice the individual units turn over more frequently, and aggregate price signals are available as other units turn over far more frequently.
On turnover, it's interesting to note that real-estate mobility has fallen markedly in the United States in recent decades. Whereas ~20% of individuals moved in any given year from 1948 through the early 1970s, that figure has fallen to about 7% in the 2020s:
That translates to a move every 5 years to roughly every 15 years, or three times the residency.
Ironically, among the factors contributing to this is being "stuck" by a mortgage, e.g., a house that's under water (more owed than the unit can be sold for), particularly in states without non-recourse ("walkaway") lending laws. This isn't the only factor, but it does contribute.
Removing private land ownership might well improve this situation.
On turnover, it's interesting to note that real-estate mobility has fallen markedly in the United States in recent decades. Whereas ~20% of individuals moved in any given year from 1948 through the early 1970s, that figure has fallen to about 7% in the 2020s:
<https://paulkedrosky.com/americans-are-less-mobile-than-ever...>
That translates to a move every 5 years to roughly every 15 years, or three times the residency.
Ironically, among the factors contributing to this is being "stuck" by a mortgage, e.g., a house that's under water (more owed than the unit can be sold for), particularly in states without non-recourse ("walkaway") lending laws. This isn't the only factor, but it does contribute.
Removing private land ownership might well improve this situation.