Real estate data services provider DataQuick reports that it has expanded its Neighborhood-Level Home Price Index (HPI) to cover 12,939 ZIP codes – up from 11,408 previously – more than twice the coverage of any other HPI.
In addition, the company's HPI now offers a more granular view of property valuation trends.
DataQuick claims the index allows originators to understand local price trends for key lending decisions. In addition, it gives servicers the intelligence they need for supporting the most effective loan modification and asset disposition strategies. What's more, it provides investors with valuable local market trends, helping them to make accurate buying and selling decisions for whole loan and portfolio trades.
‘Property valuation trends can and do vary from one neighborhood to the next,’ says John Walsh, president of DataQuick, in a release. ‘HPIs that only track regional changes simply can't identify the local market changes that can have a significant impact on lending, servicing and investment decisions. The increase in our ZIP-level coverage provides our clients with the most granular property appreciation metrics available.’
For more information about the benefits of DataQuick's Neighborhood-Level HPI, click here.