The technological revolution has reshaped the real estate industry in a major way. Between Artificial Intelligence (AI) and Machine Learning, cutting edge technological developments are propelling the real estate industry into a new era. However, insightful data may be the most critical factor for success in today’s challenging housing market.
Data allows real estate professionals to understand the wants and needs of their clients and potential clients. High-quality data facilitates more accurate valuations, smarter real estate investments, and increased customer satisfaction. Using predictive analytics data, real estate professionals can anticipate customer behavior, allowing them to engage with homebuyers before they even begin the process.
As we enter 2023, the need for high-quality, insightful data is at an all-time high. More and more sources of housing data are becoming available and real estate professionals who want to take advantage of top notch data sources need to know where to go.
Below, we’ve highlighted ten of the most important sources of housing data that every real estate professional should be aware of in the coming year.
CoreLogic, the leading provider of gold-standard data, understands how important data is in today’s competitive marketplace. The company prides itself on databases covering more than 99.99% of all real estate in the United States, and its use of thousands of diverse resources provides users with some of the most insightful intelligence available.
For example, the company’s homeowners’ equity report provides a quarterly overview of the distribution of equity across all single-family properties in the United States with a mortgage. The report includes details for every state and 10 major metro areas in the United States.
CoreLogic’s wealth of data doesn’t end there. Recent data stocks include the US Home Price Insights Report for November 2022 and our third quarter briefing on mortgage fraud.
Black Knight leads the industry when it comes to data and analytics. The monthly Mortgage Monitor report provides real estate professionals with deep insight into the housing market. The report includes everything from the national mortgage default rate and refinancing candidates per month to repayment activity and the payment-to-income ratio for 30-year rates.
Furthermore, Black Knight’s Origination Market Monitor report breaks down average credit scores by product (including FHA, VA hives and matching loans), market price indices, metro areas with the largest share of origination volume and more.
The National Association of Realtors (NAR) produces housing statistics and data at the national, regional, and metro level. From housing affordability and pending home sales to homebuyer and seller profiles, NAR is constantly pumping out the data-backed reports and surveys that industry professionals rely on.
In addition to. Members have access to Property Realtors Resourceswhich provides a wealth of data and tools to help with local market trends, pricing, and more.
In a recent presentation on Making NAR Data Work for You, NAR Vice President of Demographics and Behavioral Insights, Dr. Jessica Lutz, delves into some of the most important data points for real estate professionals in today’s market.
By capturing detailed housing data, NAR produces some of the highest quality data insights while managing to make the information easily digestible for the real estate audience.
With top-level news coverage about the real estate industry, HousingWire focuses on the information agents, teams, and brokerages need to succeed in today’s challenging housing market. Journalists such as Logan Mohtashemi publish daily news stories of interest to real estate professionals.
In a recent article, Mohtashemi commented on the slow inflation growth rate, positive CPI inflation report, falling 10-year yield, and falling mortgage rates. The article goes on to delve deeper into the data, and the HousingWire newsroom regularly posts data real estate professionals care about.
In addition, HousingWire presents HousingWire Daily, a podcast that investigates the most compelling real estate, mortgage, and fintech news from HW Media. HousingWire Daily, hosted by Sarah Wheeler, is a fun way for real estate professionals to get the scoop on the latest daily news and hear from industry leaders about what the latest data means for them and their clients.
Mohtashemi comments on what the latest inflation data means for mortgage rates in the latest episode, and this is just a taste of the key data covered every afternoon on HousingWire Daily.
Realtor.com’s Real Estate Data Library is free to use and can be an extremely valuable tool for real estate professionals. The files provided by realtor.com are organized to use the database and contain multiple metrics for different levels from geography right down to the zip code level.
The data in the realtor.com library is based on the most comprehensive and accurate databases of MLS-listed homes for sale in the industry. By aggregating and analyzing data from hundreds of courses, realtor.com produces hundreds of metrics for multiple markets and curates numbers and trends for reliability and comparability.
With reports on everything from quarterly homeownership rates, monthly rent data, weekly housing trends and beyond, realtor.com is a treasure trove of reliable real estate data that every industry professional should use.
National Association of Home Builders
The National Association of Home Builders (NAHB) compiles some of today’s most popular regional and local tables, including permitting data, employment information, and new and existing homes sold by region to give industry professionals insight into what’s happening in the housing market.
NAHB recently released an online tool that provides economic and housing statistics for all local homebuilder associations. With this tool, users can easily compare local area statistics to state and national numbers.
In addition, NAHB publishes free housing and market data on housing economics and subscription-based housing and market data in Housing Economics PLUS. Housing Economics PLUS includes historical and current collections of statistics such as: Housing Statistics (by District and Structure Type), Homes Sold by District, Producer Price Indices, Manufactured Homes, New Home Properties, Residential Vacancy and Absorption Rates, Units Under Construction, Value from New Construction and more .
By collecting and analyzing data from a range of government and private sources, CityCity.com can produce detailed, informative profiles of every city in the United States. Whether it’s crime rates or weather patterns, CityCity.com helps real estate professionals narrow down a variety of factors on a state-by-state level.
The site’s interactive data map also helps industry professionals visualize the data they’re looking for. Users can target the state, city, county or region they are in and get the data they need.
With the Zillow Home Value Index (ZHVI), real estate professionals can track market changes across a specific area and housing type. Zillow publishes ZHVI for all single-family residences, apartments/condominiums and 1,2,3,4 and 5+ bedroom homes.
ZHVI is built from the ground up by measuring monthly changes in Zestimates at the property level and captures both the level and estimate of home values across a variety of geographies and dwelling types. The Index is optimized for timeliness, comprehensiveness, and visibility, making it a solid choice for real estate professionals.
Fannie Mae is a leading source of mortgage financing in all markets, at all times. With a mission to facilitate equitable and sustainable access to affordable home ownership and rent across the country, Fannie Mae is a pillar of trusted data in the real estate industry.
In September, Fannie Mae’s Economic and Strategic Research Group announced the release of the Fannie Mae Homebuying Sentiment Index (HPSI). HPSI is designed to provide clear signals about the direction of the housing market in order to help industry professionals and investors make more informed decisions.
“The Fannie Mae Home Buying Confidence Index provides the market with a single number to track consumer attitudes focused on the housing market,” said Doug Duncan, senior vice president and chief economist at Fannie Mae.
Prioritizing quality data in 2023 will be essential for real estate professionals. With the help of the above data sources, industry professionals can better understand their customers and help more people achieve their homeownership goals.