Statistics can lie. The blogosphere is rife with this study or that poll, earnestly cited by bloggers in support of their position(s). I myself see dozens a day: either the sky is falling or the sun is rising, depending on your perspective. And as I was pondering this blizzard of stats while looking for some to support something I wanted to say, I realized that the entire pursuit is so subjective as to be useless. So now I don't wanna hear, see or read anything with stats offered up as proof, and I will refrain from same. Thank you, and you're welcome!
Rugg Realty LLC Sun City Texas 512-818-6700 - Georgetown, TX
Sun City TX Real Estate - Georgetown, TX Real Est
Hello Rock:
What is the percentage chance you will change your mind if someone showed you the statistical relevance of their supporting data?
Nov 03, 2010 05:50 AM
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News
Thank you. There are some serious flawed or misleading market reports published with the best of intentions. Here are some of my issues with hyper-local market reports:
*Time frame comparisons* How do you say prices are up x % over last year when you compare and entire year to say two months?
*Percentage of increase* Markets change month to month. One month the stats are up, the next month they are down. To say in September prices are up by X% when in June they were down by a bigger % is misleading. What is the trend over time?
*Fact checking* If you slam out a market reports without looking at the details in the MLS you can overlook some serious mistakes. There are a lot of "fat finger" typos in $$$ amounts that can skew a report.
I think market reports can have some value as a trend analysis for a home buyer or seller but not as a stand alone determination of how your home might compare to the average price or how your home will sell.
Whew :-)
Nov 03, 2010 05:54 AM
Anonymous
100%! And that's the problem! Even as I am being converted, I know that I (or anyone) can find a data set that casts the question (and its possible answers) in an entirely different light.
In reality, any hypothesis in search of statistical support needs to be sufficiently specific as to not admit any of the types of popular issues we blog about. I think...!
Nov 03, 2010 05:56 AM
#3
Coldwell Banker Rox Realty - Casa Grande, AZ
Experts say that statistics have shown that 73% of the facts are made up on the spot...LOL
As you said, give me a statistic and I can either support it or derail it according to my whim at the moment.
Nov 03, 2010 06:33 AM
Pacific Union International - Sonoma, CA
Realtor - Sonoma Wine Country
Service Areas
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A discussion of current real estate trends and issues in Arizona's Golden Corridor (Pinal County, the fast-growing area between Phoenix and Tucson, centered on Casa Grande), including day-to-day market and brokerage business concerns as well as macro-economic factors affecting the area.
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