~~Don’t believe everything you hear, and only half of what you see.
Did California foreclosures rise or fall during September, 2007? It depends how you spin the statistics.
According to Foreclosure Radar’s monthly California Foreclosure Report (published October 17), the total numbers show decreased foreclosure activity— 8,818 September foreclosure properties versus 9,477 August properties. Yea! Let’s run with that headline. But wait a statistician second. A closer look reveals the numbers may be lying. Here’s why.
In August there were 23 recording and auction days. In September there were only 18 auction days and 19 recording days. Adjusting for this fact, average foreclosure activity was up across the board: September auction sales were actually UP 18% from August and Notice of Trustee Sales UP 28%. Oh my, how stats can lie. At least it’s sunny in California.
H/T: Ginnie Cain McMurtrie, Cain Communications
Related Posts:
The Mesmerizing Magic of the Median: Statistical Sleight of Hand.
Zillow Housing Reports: The Statistical Lie of Estimated Truths.
The Power of Print: Perception as Truth
Technorati Tags: California foreclosure, statistics, real estate, housing
In an effort to revolutionize the world of Construction and Architecture by providing the best available technical assistance of the same Era, to make optimum use of time, money and other resources
One of my favorite quotes is “68% of all statistics are made up.” And I feel confident in saying that, because I just made up that statistic.