I’m looking at the DREAM (Dynamic Real Estate Appreciation Map) National Display for 4th QTR 2014.
Is the color matching of the two colors present in South Dakota [One a light blue and the Second a lighter-whiter blue] accurate from the Legend?
It appears that the light blue 3-6% color is what is present in the Black Hills region (western end of state) and in Sioux Falls (at the eastern end of the state). That seems to be the best color match from the map to the Legend for the MSA/States.
However, if that is the case, I am hard pressed to find a Lighter-whiter blue from the Legend to match the color that seems to be presented on the United States Map for the rest of the area in South Dakota.
Can you comment on what should be the correlation between the Map and the Legend for South Dakota, as pertains to these two colors shown in South Dakota?
I think what you’re asking about is the difference between the “City/MSA” color and the “State” color.
Where we have enough data points/sales transactions (i.e. – a major city), we give specific analysis (darker shade of color in the case of D.R.E.A.M. map) for THAT market.
In other areas of that state for which there is not a large enough sample size (house sales), we show the overall Stat’s data/color in a lighter shade.
So to distinguish between State OR City data, we use a dark shade/light shade for contrast.
In the case of South Dakota, the light blue (state) and the darker shade of same blue (city) mean the same: 3%-6%.
Since SD is so rural, most of the population (residential real estate) are in the few large cities and it is not surprising that the state ‘overall’ appreciation closely correlates with those cities.