House Canary, Inc. announced on Tuesday that is has launched an advanced big data and analytics platform that accurately forecasts real estate values across all 381 US metro areas. House Canary, a real estate predictive analytics company, is a homeowner’s “canary in the coal mine”, providing advance notice of downturns and upturns in the real estate market.
HouseCanary.com provides property owners in the US with a simple and accurate forecast for what is likely to happen to home values in their area over the next few years. While a home represents most people’s single largest investment in life, there is insufficient information available to help people understand likely future real estate price swings in their area and appropriately plan. HouseCanary is launching a free-mium web service to help homeowners create value. Why? “Our goal is to arm every current and future homeowner, who has most of their net worth wrapped up in their home, with better information about their home’s future value, and why it is likely to change,” states HouseCanary’s Founders.
HouseCanary is both highly reputable and accurate. Using real estate big data dating back over 40 years, the company creates accurate monthly forecasts up to 36 months into the future, with an average of 0.93 r-squared; meaning the forecasts explain over 90% of future movement in real estate markets. The company employs rigorous techniques in statistics and econometric analysis, utilizing real estate and economic data combined with search trend data, social sentiment, and proprietary local social metrics that help provide insight into the behavioral element that drives real estate markets.
By combining real estate and social data with predictive algorithms to produce accurate forecasts, “HouseCanary has done the impossible, coming up with amazingly accurate models that allow individuals and institutions to more easily navigate the complex and confusing landscape of real estate data,” says Lee Sherman, co-founder of Visual.ly. “We’re excited to partner with them to power their interactive visual infographics.”
HouseCanary also serves the most sophisticated institutions, including homebuilders, mortgage banks and REIT’s with highly detailed predictive forecasts. For Institutional clients, HouseCanary provides details on the drivers of the forecasts, and sensitivities for how changes in interest rates and other factors will affect prices going forward in each market.
Stay tuned for major new developments from HouseCanary that will be coming out very soon.
About HouseCanary, Inc.
HouseCanary is a real estate predictive analytics company that combines state-of-the-art big data approaches, predictive analytics, and data visualization to accurately forecast and communicate future real estate values at the metro and zip code level. HouseCanary serves institutional clients, investors, realtors and consumers. HouseCanary was founded by a team that includes former partners from the world’s leading strategy consulting firms and Statistics PhD’s from leading universities. To learn more about HouseCanary, please visit Housecanary.com or call +1 888 818 6328.