Table 6. Posterior summary of approximate elasticity (β₁+α_j) by city

City	Mean	5% HDI	95% HDI
Seoul	−0.4324	−0.4396	−0.4253
Busan	−0.4385	−0.4463	−0.4304
Daegu	−0.4358	−0.4453	−0.4258
Incheon	−0.4405	−0.4497	−0.4319
Gwangju	−0.4438	−0.4559	−0.4333
Daejeon	−0.4481	−0.4617	−0.4364
Ulsan	−0.4457	−0.4584	−0.4352

Note: β₁+α_j measures the persistence of monthly housing price changes in each city. Higher positive values indicate momentum, while negative values imply mean reversion. All cities show negative values, consistent with the presence of corrective price dynamics. HDI refers to high density interval. Units are expressed in percentage points.