Here are the main real estate data variables that matter to real estate investors, and where to find them. As with any data information, you get what you pay for. Good or bad real estate analytics. If you just want to shop, use the web, and surf. If you are going to put money at risk long-term, and a real estate investor, and not just a shopper or wanna-be, then the best real estate data is not free, nor currently online as of this 2018 update.
Affordability Real Estate Data
Affordability is itself an index compiled from a host of factors that relate to the cost of living for a specific area. One factor that can destroy income grown and diminish purchasing power and real estate prices is an exorbitant cost of living. Specific factors that need to be monitored include inflation, tax rates and other income-diminishing variables.
This is just another example of how the ideal real estate tool could help identify potential trouble spots. Some Commercial Real Estate Data and Real Estate Property Data and ;Real Estate Market Stats have property data, but few have local real estate data that WILL affect real estate prices. LPS Real Estate Data Solutions and DataQuick have property data, but what about the City Block real estate growth data sets?
New Business/Recent Changes
The entrance of new business into a community typically means more jobs and a greater need for housing, which tends to drive prices upwards with the opposite also being true. The ideal real estate tool would take into account recent changes in new business and therefore effectively project price movement in the future.
Employment and Recent Changes
You can see the pattern here. Real estate analytics matters.
Almost any economic factor, be it on the micro or macro level, is relevant to value determination and forecasted value.
The average income level of an area (be it macro or micro but most noticeable on micro level) will have a strong correlation with property future values.
Average Age of the Populace
Younger people tend to start families, move more often, and require more large ticket items than do older adults. Thus, the average age of an area will play a subtle yet pronounced role in value determination and especially in forecasted value.
Vacancy Rates/Recent Changes
What do high vacancy rates typically signify? Either the area is overdeveloped or for some reason, it has become easier to purchase in the area than it is to rent. Either way, vacancy rates will provide another picture of a specific market, but they must be compared to other variables in order to isolate their cause and determine the true effect. Now that we’ve established what kind of relevant and current information we need to feel comfortable with a current or projected value, the obvious question becomes:
Where do we obtain this information and who are the sources we can trust to provide it?
Below is a good list of where you can get some real estate data, note, typically most businesses do not provide valuable real estate data to consumers, and just teaser info, which is another reason why most local real estate data is still not on the web as of 2017.
Investors still have challenges in their investment in real estate, without better real estate analytics and real estate technology. Where to find Real Estate Data Variables – here is a good place to start…
Bureau of Economic Analysis (BEA)
Bureau of Labor Statistics (BLS)
Federal Financial Institutions Examination Council (FFIEC)
Internal Revenue Service (IRS)
Federal Reserve Board
Mortgage Bankers Association (MBA)
National Association of Realtors (NAR)
National Center for Education Statistics (NCES)
Office of Federal Housing Enterprise Oversight (OFHEO)
Conference Board United States Census Bureau
American Bankers Association
United States Department of Defense (DMDC)
United States Postal Service (USPS)
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