The study of New Residential Home Sales in the United States will be my project focus. Real estate trends have in past years been closely related or tied to the pulse of the economy. When the economy is on an incline consumers spend more money. However when the economy starts to decline consumers slow down their spending and save or cut back costs in most areas. When there is an incline and increased spending there is an increase in real estate transactions.
Provide an analysis of the data based on yearly quarterly and monthly new home sales. This analysis will be robust charting graphical depictions and trending from January 2002 through December 2010. Data points will be set from a range of new homes less than $150000 to $750000 and over with data from the Northeast Midwest South and West.
Using statistical techniques I hope to be able to predict the expected sales in 2011 and actually provide a test that will validate whether or not my prediction was correct. These predictions should be in line with the economic downturn that we have experienced consistently over the past 5 to 7 years.
Please use
graphs
summary statistics
hypothesis tests
confidence intervals
a simple linear regression analysis
a multiple regression analysis