Man Bites Dog — Real Estate Edition The vast majority of the time — like 99% — when real estate statistics are off, they’re off on the, shally we say . . . “embellished” side.* So, the 1 1/2 story is billed as a 2 story, the 1,800 square foot home is billed as 2,000,...Read More
Lies, Damn Lies, & (Real Estate) Statistics — Cont. CoreLogic says its estimate is within 10% of a sales price for between about 55% and 75% of homes, depending on the region. Zillow’s estimate is within 10% of sales price almost half the time. –“Housing Statistics Hit Rough Waters“; The Wall Street Journal (Jan. 8,...Read More
Lie, Damn Lies — & Graphs The graph at right captures my attitude towards the myriad graphs, charts and other “pictorial data” available to show real estate trends . . . (And no, it’s not my idea; I saw this in a cartoon on the wall in the Stanford economics department in 1981).Read More
Absorption Rates: Window to R/E TrendsIt’s easy to get swamped by real estate statistics, which is why a catch-all like the “absorption rate” is so popular. In one, broad number — measured in months — it tells you how long it would take to absorb the current inventory on the market. Four months or less...Read More
