Homeownership Rate, Total US (NSA)

Source:
U.S. Census Bureau

Release:
Housing Vacancies and Homeownership

Units:
Percent, Not Seasonally Adjusted

Frequency:
Quarterly

Available Through:
09/30/2021

Why Use:

The homeownership rate provides an indication of the percentage of the population that owns as opposed to rents. This gives an indication of the stability of real estate markets as well as economic stability.

Suggested Treatment:

The data shows autocorrection and a non-normal distribution. The data should be differenced. While the Arcsin transformation, provides the best normality, the Log variable will also perform well.

Grain Transformation:

Data is unable to be distributed by time or geography. The roll up method used is Weighted Average.

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Homeownership Rate, Total US (NSA)

Auto Correction Function

Auto Correlation Function After Differencing

Partial Auto Correlation Function

Seasonal Impact

Seasonal and Trend Decompostion

Autocorrectation Analysis:

Data shows autocorrectation indicating a need for differencing

The ACF indicates 1 order differencing is appropriate.

Further differencing is reccommended

Trend Analysis:

The Kwiatkowski-Phillips-Schmidt-Shin (KPSS) test, KPSS Trend = 0.33 p-value = 0.01 indicates that the data is not stationary.

Distribution Analysis:

The Shapiro-Wilk test returned W = 0.95 with a p-value =0.16 indicating the data follows a normal distribution.

A skewness score of 0.04 indicates the data are fairly symmetrical.

Hartigan's dip test score of 0.06 with a p-value of 0.55 inidcates the data is unimodal

Statistics (Pearson P/ df, lower => more normal)

No transform
1.69
Box-cox
1.75
Log_b(x-a)
1.69
sqrt(x+a)
1.69
exp(x)
1.84
arcsinh(x)
1.69
Yeo-Johnson
1.80
OrderNorm
1.76

Citation:

U.S. Census Bureau, Homeownership Rate for the United States [RHORUSQ156N], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/RHORUSQ156N, December 13, 2019.

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