Home Price Forecast Models with a Host of Enhancements Launched
HONOLULU, HI: Collateral Analytics, the real estate analytics provider releases the next generation of its home price models which provide price forecasts for nearly 400 CBSAs and 10,000 ZIP Codes. These are based on the underlying drivers of home prices which Collateral Analytics has found to be employment and household income growth.
Enhancements included in the new model includes the ability of pooling of groups of CBSAs with similar characteristics such as those with more rapid economic growth and/or those experiencing higher demand from international buyers.
The latest model has been deployed to generate five year forecasts for seven different scenarios including baseline scenarios built upon expected economic conditions, as well as both adverse and severely adverse scenarios following the Federal Reserve’s Comprehensive Capital Analysis and Review (CCAR) stress testing program.
A number of CA Products that incorporate predictions of future price paths which include HomePriceTrends, CA Value Forecast AVM, and the CA Credit Risk Model can be updated and supported with the new model.
“Improving the process to estimate future home prices is an ongoing process for us,” says Michael Sklarz, President and CEO of Collateral Analytics, a leading provider of comprehensive automated valuation solutions and real estate analytic products for large lenders and the financial services industry.