Producing NAR’s quarterly Economic and Market Watch reports in their current format "has proven costly and time-consuming," the announcement said, and the trade group selected 10K’s "Marketwatch" reports as an "affordable alternative."
The firm’s reports include county- and ZIP code-level statistics from local multiple listing services, including data on median sales price, percentage of original price received, days on market, homes for sale, closed sales, and months’ supply of unsold inventory.
NAR will continue to produce quarterly reports through second-quarter 2012, and 10K will take over immediately thereafter.
The 10K research firm is a division of the Minneapolis Area Association of Realtors. Chicagoland MLS Midwest Real Estate Data LLC (MRED) recently entered into a licensing agreement with the firm to give its members access to 10K’s "The Thing," an interactive housing market analytics tool.