BELLEVUE, WA – Quantarium today announced the release of its TerraIndex™ HPI Report for December 2022, providing insights and analytics about the nation’s housing market nearly two months faster than other industry HPI reports.
“Waiting two months in a market as fragmented and as fast-changing as this is like waiting two weeks after all regular-season games ended to see which teams made the playoffs,” said John Smintina, Ph.D., Chief Analytics Officer and Quantarium Co-Founder. “We are excited to give our clients Home Price Index results in days, instead of months.”
The TerraIndex™ HPI Report is similar to other national HPI-based reports that track house prices and trends, such as the S&P CoreLogic Case Shiller Home Price Index. What makes the difference is the methodologies used. The Case Shiller Index, for example, measures repeat sales data and reflects a three-month moving average. The company reports the HPI results for a given month with about a two-month lag. For example, the Case Shiller HPIs for the month of December 2022 will be available on February 28, 2023 – that is about seven weeks later than Quantarium HPIs, which were released today, January 11, 2023.
The TerraIndex™ Home Price Index (HPI) is based on the proprietary Quantarium Valuation Model (QVM) value estimates for more than 100 million residential U.S. homes. QVM has been tested extensively in the last five years by some of the most trusted third-party AVM testing agencies in the U.S. and has been consistently ranked at the top for both Accuracy and Hit Rate performance metrics.
QVM re-computes the estimated values for the entire national footprint on a weekly basis, along with HPIs at various geography levels – from State, County, CBSA, down to Zip Code and Census Tract. Furthermore, the HPIs produced on any given date are based on proprietary valuation models which include over 90% of all sales transactions that will have been eventually reported through a four-week rolling period ending that date, taking advantage of Quantarium’s industry leading Data Services Platform (QDSP) to reduce the processing time lag to an absolute minimum. That allows TerraIndex™ HPI to provide the most current market insights, being weeks faster than most other housing indices in the U.S.
The report for a given month is usually available on the second Wednesday of the following month. For example, HPIs for the month of December 2022 were made available on Wednesday, January 11, 2023.
Located in Bellevue, WA, Quantarium was founded by a team of leading scientists and Ph.D.’s. The company has designed and developed an innovative and enabling set of AI and Visual Technologies currently being deployed across multiple real estate industry sectors. Quantarium is one of the most accurate sources of property insights for over 158 million U.S. properties and trusted by major mortgage lenders, financial institutes, builders, direct marketing agencies, and real estate professionals across the nation. With a technology suite that is different in kind, then degree, the company’s products and services uncover and capitalize on the core DNA of vertical industries. From genetic modeling property valuations and markets that understand and interpret real estate data as expressed through synthetic future populations, through to CV adjusted values, Quantarium offers real AI to drive real value.
For more information, visit: quantarium.com
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