The Daily Home Price Flash provides daily data on several market indicators, including the number of new listings, number of off-market listings and the median time it takes to sell a property. These data points have historically been leading indicators of the future direction of home prices.
Other housing price reports, such as HPIs, are released monthly or quarterly, and have a much longer lag time. The Daily Home Price Flash provides near real-time home prices for more frequent analysis to help predict home price changes and estimate the timing for changes in the market.
Typical home price indices are also “noisy” – meaning much of the data cannot be understood or interpreted correctly by machines. To normalize this, the platform leverages daily local MLS data and uses the median sold price per square foot of living area as the basic home price metric to better improve accuracy.
Provides housing metrics for single-family residential transactions in nearly all states and more than 200 top U.S. metros.
Consists of the most current data available to support more informed decision-making
Uses the median sold price per square foot of living area as the basic home price metric
Helps predict home price changes, as well as estimate the timing for changes in the market
The Daily Home Price Flash is available in Black Knight’s Rapid Analytics Platform℠ (RAP℠), which enables clients to easily consume and analyze the data. RAP is a cloud-based enterprise data and analytics solution that transforms the way companies leverage data and enables decision science strategies in their workflow. Designed for real-time, high-speed processing, RAP enables clients to perform advanced analytics with instant access to Black Knight data, and seamlessly join their own and third-party data.
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