Why Use This Data Source In Your Models?
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.
Homeownership Rate by State
Source:
U.S. Census Bureau
Release:
Housing Vacancies and Homeownership
Units:
Percent, Not Seasonally Adjusted
Frequency:
Annual
Available Through:
12/31/2022
Suggested Treatment:
The data shows seasonality. The data should be adjusted. While the Order Norm 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.
Data does not show strong auto correlation indicating no need for differencing
The ACF indicates 0 order differencing is appropriate.
Further differencing is reccommended
The Kwiatkowski-Phillips-Schmidt-Shin (KPSS) test, KPSS Trend = 0.14 p-value = 0.07 indicates that the data is stationary.
The Shapiro-Wilk test returned W = 0.86 with a p-value =0.08 indicating the data follows a normal distribution.
A skewness score of -0.03 indicates the data are fairly symmetrical.
Hartigan's dip test score of 0.13 with a p-value of 0.08 inidcates the data is unimodal
Auto Correlation Function
Auto Correlation Function After Differencing
Partial Auto Correlation Function
Data Notes:
The following states do not report for this feature: District of Columbia, Puerto Rico. Additionally, 2020 data is not currently available.
Citation:
Varies
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