Median Sales Price of Houses Sold in the US

Source:
U.S. Census Bureau

Release:
Housing & Urban Development

Units:
Dollars, Not Seasonally Adjusted

Frequency:
Quarterly

Available Through:
09/30/2021

Why Use:

Median sales price of houses sold describes supply and demand of housing in the United States, and can predict consumer behavior around purchasing or renting housing.

Suggested Treatment:

The data shows autocorrection and a non-normal distribution. The data should be differenced. While the Boxcox transformation, provides the best normality, the Arcsin 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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Median Sales Price of Houses Sold in the US

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 = 0.23 p-value = 0.01 indicates that the data is not stationary.

Distribution Analysis:

The Shapiro-Wilk test returned W = 0.94 with a p-value =0.09 indicating the data follows a normal distribution.

A skewness score of -0.56 indicates the data are moderately skewed.

Hartigan's dip test score of 0.04 with a p-value of 0.98 inidcates the data is unimodal

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

No transform
1.61
Box-cox
1.45
Log_b(x-a)
1.52
sqrt(x+a)
1.56
exp(x)
NA
arcsinh(x)
1.52
Yeo-Johnson
NA
OrderNorm
1.53

Citation:

Board of Governors of the Federal Reserve System (US), Household Debt Service Payments as a Percent of Disposable Personal Income [TDSP], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/TDSP, December 13, 2019.

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