Fluctuations in price dynamics in real estate market is a common phenomenon in each country. A unified criterion about price bubbles in real estate has not been found yet. The test methods used by main-stream economics are based on rational expectation. This paper discussed those methods including Variance Bounds test, West Specification test, Unit root and Co-integration test, RALS Unit root and Co--integration test and regime-switching test, and pointed out their feasibilities and limitations.