Updater and the National Association of Realtors have entered into an agreement where Updater will supply the NAR with anonymous, aggregated relocation data.
According to a press release, the NAR will use Updater’s real-time, pre-move data — which leverages Updater’s hundreds of real estate partnerships across brokerage, mortgage, multifamily and more — to inform its trend forecasting and reporting efforts, empowering its members with actionable insights.
“Real-time insight into relocation trends and forecasts will allow NAR’s REALTOR members to leverage new, sophisticated tools to serve their clients. Moreover, NAR’s ability to access pre-move data for the first time will only further establish the organization as the housing industry leader that consumers trust most,” said David Greenberg, Updater’s founder and CEO.
NAR members will receive access to both national and local moving developments, including REALTOR-only content. In addition to member-facing trend forecasts, NAR will leverage Updater data to publish public-facing thought leadership content for consumers, offering relocation trends and market insights in real-time, according to the press release. The data will be credited to Updater and published on NAR’s economics blog as well as on an internal portal for members, where it plans to create a separate section detailing the following month’s moving trends to stay ahead of rapidly shifting information. Specific data will include:
- Proprietary pre-move timing data
- Homeownership vs. rentals
- Origin and destination home size
- Origin and destination addresses
- First-time homeownership identification
“The information is much timelier than government data on population movements. Therefore, the use of Updater proprietary information will provide invaluable research about changes in residential location and of housing demand at the local level,” said Lawrence Yun, NAR’s chief economist.
Updater has partnered with the NAR in the past and was part of its inaugural REach program, an accelerator created in partnership with its early-stage technology fund Second Century Ventures – which has made two strategic investments in Updater.
