InfoSparks: Transforming Statistics into Stories

Julie Dahl, IRES

“What’s the market like?”  It’s a question that every broker and appraiser hears on a daily basis and also a question that can be extremely hard to answer.  Real estate professionals and consumers alike are bombarded with data points that lack relevancy for their particular market and are frequently based on inaccurate data. To compound the issue, real estate pricing trends are often rattled off without providing context.  Statements like “The market is up 15%!” sound exciting, but what does that mean? How did the author arrive at that number? What was the methodology used? For what period of time?