The San Diego-based firm said property analytics experts now offer neighbor valuations for 12,939 ZIP codes compared to the prior amount of 11,408. This is more than twice the number of any competing HPI, DataQuick noted.
Even though the housing recovery is taking place nationwide, a deeper look at individual neighborhoods shows an uneven picture of area housing strength. The neighborhood-level HPI will offer a more granular view of valuation trends for millions of U.S. properties, an important advancement for mortgage professionals across the country.
By expanding their HPI to include more ZIP codes using a geospatial approach, DataQuick allows originators to understand local price trends to make important lending decisions, gives servicers information they need to support effective loan modification and asset disposition strategies, and provides investors valuable local market trends in order to make accurate buying and selling assessments 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.”