The research arm of the National Association of Realtors has chosen research firm 10K Research and Marketing (10K) to produce its local market statistics reports, the firm announced this week.
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.
Members of the Chicagoland multiple listing service Midwest Real Estate Data LLC (MRED) will soon have access to an interactive housing market analytics tool from research firm 10K Research and Marketing (10K). Both companies announced they had entered into a licensing agreement today.
Dubbed "The Thing," the tool will allow users to create customized charts of MRED data. The charts would show data points such as homes for sale, average days on market, months’ supply of inventory, pending sales, and median sales price, filtered by criteria such as property type, distressed vs. traditional sales, price range, and neighborhood or ZIP code
Russ Bergeron, MRED’s CEO, said the tool would help MRED’s nearly 40,000 members do more business.
"Having a deep understanding of your local housing market and being able to communicate information about that market in an understandable way are prerequisites for success as a real estate professional," Bergeron said in a statement.