1. CONTENTS (1) RESEARCH OBJECTIVES The purpose of this study is to identify selling and buying time preferences on the relationship between the housing price and the trading volume in Korea. (2) RESEARCH METHOD This study conducted Granger casuality test and VAR(VEC) model test in order to confirm the positive(+) and dynamic relationship between price and trading volume in the Korean housing market. Additionally this study executed the survey analysis of which questionnaire consisted of the preferences to the time for selling and buying houses in order to figure out the psychological biases of buyers and sellers. (3) RESEARCH FINDINGS In the results of this study, we found that the sellers and buyers have discrete selling and buying time preferences which affect the relationship between price and trading volume. 2. RESULTS This study shows that there generally exists the positive(+) interrelation between price and trading volume with 1～2 month lags. And the survey results reveal that the sellers and buyers have discrete psychological biases on the variation of housing price; "loss aversion" for sellers and "expectation" for buyers. These discrete psychological biases influence on forming the relationship between price and trading volume.