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Old 01-29-2013, 05:59 PM
 
Location: Dallas
2,414 posts, read 3,487,046 times
Reputation: 4133

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This article thinks so:

Top 10 Moving Destinations in the U.S. - Yahoo! Finance

Was there a typo? No way the average home price is $61,000 in Dallas! I don't even think Fort Worth is that cheap. You may get a shack near fair park for that price, but even $250,000 doesn't go far in any desirable Dallas neighborhood. Someone please show me these deals, I must be looking in the wrong places.

Last edited by RonnieinDallas; 01-29-2013 at 06:07 PM..
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Old 01-29-2013, 06:04 PM
 
Location: Austin
7,244 posts, read 21,811,238 times
Reputation: 10015
The data is only from Penske truck rentals. This data does not include anyone moving with a Uhaul or Budget truck or big names like Mayflower or Van Lines. Penske clientele is probably a very low-end clientele. Their report of the top 10 cities where people are moving to don't even come close to all the National reports from Forbes, Money Magazine, or other surveys out recently.
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Old 01-29-2013, 07:24 PM
 
Location: On the golf course
264 posts, read 625,186 times
Reputation: 431
3rd quarter 2012 median single family home sales price was $165,200 for the Dallas- Fort Worth metro area per the NAR.

That is a very poorly written article. I would imagine the author intended to write $161,000, not $61,000.
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Old 01-29-2013, 07:26 PM
 
Location: San Antonio
4,422 posts, read 6,259,038 times
Reputation: 5429
Quote:
Originally Posted by lakehighlands View Post
3rd quarter 2012 median single family home sales price was $165,200 for the Dallas- Fort Worth metro area per the NAR.

That is a very poorly written article. I would imagine the author intended to write $161,000, not $61,000.
Exactly. Someone forgot a digit.
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Old 01-29-2013, 09:17 PM
 
Location: North Texas
24,561 posts, read 40,285,459 times
Reputation: 28564
Quote:
Originally Posted by RonnieinDallas View Post
This article thinks so:

Top 10 Moving Destinations in the U.S. - Yahoo! Finance

Was there a typo? No way the average home price is $61,000 in Dallas! I don't even think Fort Worth is that cheap. You may get a shack near fair park for that price, but even $250,000 doesn't go far in any desirable Dallas neighborhood. Someone please show me these deals, I must be looking in the wrong places.
Median and average are NOT the same thing.
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Old 01-29-2013, 09:46 PM
 
Location: Dallas
2,414 posts, read 3,487,046 times
Reputation: 4133
Quote:
Originally Posted by BigDGeek View Post
Median and average are NOT the same thing.
Technically your right. Median is not average. MEAN would be the "average" but the numbers should correlate in the context of the article.

Last edited by RonnieinDallas; 01-29-2013 at 10:00 PM..
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Old 01-29-2013, 09:57 PM
 
9,418 posts, read 13,497,989 times
Reputation: 10305
Quote:
Originally Posted by RonnieinDallas View Post
Technically your right. Median is not average. MEAN would be the "average" but the numbers should correlate in the context of the article.
Mean, median, mode. I do remember, and it still doesn't add up. No pun intended!
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Old 01-30-2013, 07:39 AM
 
5,265 posts, read 6,405,851 times
Reputation: 6234
I would guess that a boatload of houses are sold in south Dallas for less than $100k which drives the median down. The same number is referenced on Trulia here, and doesn't make much more sense. Not sure if they are including condos, etc. The $61k is apparently just for Dallas itself, not the suburbs.


Dallas average and median listing prices - Trulia.com
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Old 01-30-2013, 08:08 AM
 
Location: North Texas
24,561 posts, read 40,285,459 times
Reputation: 28564
Quote:
Originally Posted by RonnieinDallas View Post
Technically your right. Median is not average. MEAN would be the "average" but the numbers should correlate in the context of the article.
There's no "technically" about it.

The median is the value that separates the top half of a data sample from the bottom half. The mean is the sum of the values in the sample divided by the number of values. Big difference!

I guess I see it a lot more in my line of work; I work with SQL Server and it has native support for calculating means (AVG() function) but has no native support for calculating medians...therefore I have to do it myself with a couple of pages of code. So I'm pretty familiar with the difference between the two.
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Old 01-30-2013, 09:29 AM
 
2,206 posts, read 4,748,197 times
Reputation: 2104
Quote:
Originally Posted by BigDGeek View Post
Median and average are NOT the same thing.
They tend to be pretty close given a normal distribution. And home prices are slightly skewed but not that much.

Quote:
Originally Posted by BigDGeek View Post
There's no "technically" about it.

The median is the value that separates the top half of a data sample from the bottom half. The mean is the sum of the values in the sample divided by the number of values. Big difference!

I guess I see it a lot more in my line of work; I work with SQL Server and it has native support for calculating means (AVG() function) but has no native support for calculating medians...therefore I have to do it myself with a couple of pages of code. So I'm pretty familiar with the difference between the two.
True. You need to get a job working with R and analytics in a real RDBMS.
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