Using regression analysis to predict single family home values/prices in the Belmont/Eastside areas of Pueblo
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The way that home values are established today is not statistically robust. Appraisers evaluate only three comparable properties to set a value, or price, for a house up for sale which is not as significant as one would think. Given the hundreds of property sales that occur in one year, it is logical to evaluate and analyze the sales from multiple previous years in a certain area to establish a more accurate value/selling price for a house in that specific area. Regression analysis is a statistical approach of modeling the relationship between one or more independent variables, or characteristics ...
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