DataQuick has expanded its Neighborhood-Level Home Price Index (HPI) to offer a more localized view of property valuation trends. Neighborhood-level coverage for the HPI has increased from 11,408 to 12,939 zip codes—more than twice the number of any competing HPI.
The Neighborhood-Level HPI provides a more granular view of valuation trends for millions of U.S. properties, an important advancement for professionals across the mortgage spectrum. Using a geospatial approach, DataQuick allows originators to understand local price trends for key lending decisions, gives servicers the intelligence they need for supporting the most effective loan modification and asset disposition strategies and provides investors valuable local market trends in order 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,” said John Walsh, president of DataQuick. “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.”