Tucson Arizona Home Prices and Statistics
September 6, 2007
Post Tags: Tucson-Home-Price-Index , Tucson-Real-Estate-Market-Statistics
If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
This week we have been taking a look at the Arizona home prices in the 2nd Quarter of 2007 based on a report from The Office of Federal Housing Enterprise Oversite. Specifically the Home Price Index as reported in the Arizona Daily Star.
Here is the quote from the article:
Year over Year Figures:
“Even with the quarterly decline, Arizona did manage to post a 2.2 percent increase in home prices over the same period a year earlier. But here, too, the state lagged the average national increase of 3.2 percent.”
The problem with percentages and statistic
The emphasis in the above quote downplays the 2.2 percent increase in home prices with the comparison of the national average of 3.2 percent.
I’m not going to go into a long detailed look at this by going back to the previous reports of last year and showing how this is a significantly better number for Arizona than the Nation. It can be summed up quickly and still leave room for some fun with numbers and statistics.
Arizona was #1 in the second quarter of 2006 with 24.05% increase over the previous year in the Home Price Index the same quarter the US average was 10.06% over the previous year.
In the second quarter of 2007 the Arizona increase was 2.20 percent over the previous year while the US average was 3.19% over the previous year. These are the Year over Year percentages.
Therefore, National home price only had a 10.06% increase the previous year while Arizona had 24.05%. Arizona still had a 2.20% increase over the 24.05 while the nation showed a 2.19% increase over 10.06%.
Productivity and Statistics.
- Company A sold 100 widgets last year at $1,000 per widget.
- Company B sold 2 widgets last year at $1,000 per widget.
This year:
- Company A has a 10% increase in sales over last year.
- Company B has a 50% increase in sales over last year.
Reporting:
“While Company A showed a 10% increase in widget sales for the year it lagged behind Company B posting a 50% increase in widget sales.”
Which company had the better year?
Previous Posts in this series:
