Linear Regression Model for Predicting Housing Prices in the United States
VerifiedAI Summary
The purpose of the project is to develop a linear regression model that can be used to predict the average annual sales prices for new homes sold in the United States with an aim to assess whether the prices will be sustainable. The housing data was collected from https://www.census.gov/construction/nrs/index.htm. The housing prices were gathered for the past seventeen years (2000-2016) but more data going as a far behind as 1963 is available. The linear regression model has shown a moderately strong relationship between the years and the prices of houses. Two linear models have been analyzed using housing price data in the United states. One model has used data between 2000 and 2016 while the other has used data from 1963 to 2016.
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