Parcl Labs Price Feed USA Update
Parcl Labs Price Feed USA Update
At Parcl Labs, we are committed to delivering high-quality, real-time data to help our users make better-informed decisions. Today, we are pleased to announce the launch of an updated version of the Price Feed for the United States - the only price indicator that tracks residential real estate in real-time across the country.
Figure 1. Parcl Labs Price Feed for the USA
The new Price Feed continues with historical data coverage back to 2000 for the national market and allows us to better utilize signals offered by more timely data sources, such as real estate listings. This enhancement enables our price feed to more accurately reflect the current state of real estate.
As with previous releases, we conducted a thorough evaluation of our time series. We performed a correlation analysis of our Parcl Labs Price Feed (PLPF) for the USA against the Case-Shiller National Index. Our results show that our data demonstrates a strong correlation of 0.98 from January 2000 to December 2023. However, unlike the Case-Shiller Index—which focuses on a limited portion of the market and is severely lagged—our PLPF incorporates real-time information to provide daily updates. This means our users don’t have to wait two and a half months to understand what is happening in their markets today.
Figure 2. Correlation of Parcl Labs Price Feed for the USA and the Case Shiller US National Index
The improved Parcl Labs Price Feed (PLPF) for the USA continues our mission of empowering our users to make better, more informed decisions about residential real estate. The PLPF provides a comprehensive solution to the problems associated with the real estate information ecosystem, offering a reliable and timely price feed that allows buyers, sellers, and investors to make informed decisions based on accurate and real-time market data. With more data points than ever before, improved stability of our time series, and increased data coverage, there has never been a better time to utilize state-of-the-art data to make better decisions.
