The formation of the prices of real estate assets is a component of regional inter-explanatory interregional trade, population movements, the supply of construction materials and national macroeconomic policy, among others. The aim of this study was to evaluate the effect of this interrelation through the new housing price of the seven major cities in Colombia during the period 1999Q2 2013Q3, in order to test for regional convergence in prices and whether or not a diffusion effect in the market for new housing in Colombia. Using time-series techniques shown that local markets converge in the long run and there is no diffusion effect treated as interregional transfer of shocks originating in Bogota prices. Palabras clave: Precios de vivienda, integracion de mercados, raices unitarias, cointegracion, Modelo VAR. Clasificacion JEL: C22, R10, R31. ♦ Economista y Magister en Ciencias Economicas de la Universidad Nacional de Colombia-Sede Bogota. Investigador del Grupo de Investigacion en Politicas Publicas y Economia Empresarial Universidad Sergio Arboleda-Bogota, Colombia. Correo electronico: hernan.enriquez@usa.edu.co. ♠ Economista de la Universidad ICESI – Cali, Magister en Economia de la Universidad del Rosario – Bogota. Investigador del Grupo Finanzas y Politica Economica, Facultad de Ciencias Economicas y Administrativas, Universidad Catolica de Colombia, Bogota, Colombia. Correo electronico: jacampo@ucatolica.edu.co. ♣ Economista de la Universidad Nacional de Colombia, Phd en Economia Aplicada de la Universidad Autonoma de Barcelona – Espana. Investigador del Grupo de Investigacion en Politicas Publicas y Economia Empresarial Universidad Sergio ArboledaSede Bogota, Colombia. Correo electronico: antonio.avendano@usa.edu.co.