Why Use This Data Source In Your Models?
Market Hotness: Median Days on Market by County - Not Seas Adj
Market Hotness Index
Percent Change from Year Ago, Not Seasonally Adjusted
The data shows auto correlation and a non-normal distribution. The data should be differenced. While the Order Norm transformation, provides the best normality, the Square Root variable will also perform well.
Data is able to be distributed by time but not by geography. The roll up method used is Weighted Average.
Data shows auto correlation indicating a need for differencing
The ACF indicates 1 order differencing is appropriate.
Further differencing is reccommended
The Kwiatkowski-Phillips-Schmidt-Shin (KPSS) test, KPSS Trend = 0.15 p-value = 0.05 indicates that the data is not stationary.
The Shapiro-Wilk test returned W = 0.93 with a p-value =0.00 indicating the data does not follow a normal distribution.
A skewness score of 0.92 indicates the data are moderately skewed.
Hartigan's dip test score of 0.03 with a p-value of 0.97 inidcates the data is unimodal
Auto Correlation Function
Auto Correlation Function After Differencing
Partial Auto Correlation Function
Seasonal and Trend Decompostion
Realtor.com, Market Hotness: Median Days on Market in Los Angeles County, CA [MEDAONMAYYCOUNTY6037], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/MEDAONMAYYCOUNTY6037, May 30, 2022.
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