Why use a 13 month time period?
Market Review displays a 13-month spark line for each metric. If you're wondering why it isn't just set to one year, you're not alone. The first thing to understand is that metrics are only interesting in relation to something else. If you read a headline that said "Last month, 500 homes were sold," that wouldn't mean much unless you knew how many homes were usually sold. So it's important to have those points of comparison.
In real estate, we generally use the reference points of either month-over-month (MoM) or Year-over-Year (YoY). MoM means how is this month different from last month, like July vs June. YoY means how is this month different from the same month last year, like July 2022 vs July 2021. This YoY comparison is why we need a 13-month trend line. If we only showed one year of data, that would let us compare July 2022 to August 2021, since there are only 12 months in a year. We need to add that extra month to get the correct comparison, and that equals 13 months..
Is it a Buyer's or a Seller's market?
This is a common question, and one that can definitely be answered with statistics. To quickly get to an answer, we recommend using the Market Review dashboard, because it gives you a single page view of several metrics at once, with a short history ...
How to change the Time Period
Learn how to change the time period of your analysis within Market Insights.
Which Dashboard should you use?
In the world of data and statistics, we have a framework called "Bite, Snack, Meal". The idea is that you only want to provide the end user with the amount of data that they can easily digest. The Bite is a the smallest piece of information or ...
How to zoom in on a chart
Much like you zoom in on a map, there are times when you may want to zoom in on a chart. Maybe you're viewing a chart with a long time history, but you only want to view or share a shorter period of time. Maybe you're looking at a price ...
Using Market Infographic
Learn how to use the Market Infographic dashboard.