Real Estate Group Blog for Hampton Roads, Williamsburg & N. Carolina - Blog Archive: May, 2012

Real Estate Group Blog for Hampton Roads, Williamsburg & N. Carolina. Keep up on all the latest happenings and local market information.

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May 2012

There are 1 blog entries for May 2012.

There’s an old quote that floats around about how statistics are one of the three kinds of lies. While it’s true that numbers can often be manipulated or interpreted to support nearly any viewpoint, an understanding of the basics of statistics can help you cut through the clutter to see what’s really being represented. By having better knowledge of the language used, you can view any statistic with a more critical eye and thus be better informed.

Two of the big numbers often cited in real estate statistics are “average” and “median.” For example, many reports will cite the average home price over a period of time, or claim that median income in an area has gone up or down. Sound familiar?  Most people have seen those statistics, or something similar,

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