PRESS RELEASE:
HouseCanary Pro® Web Application Brings Big Data Insights to Real Estate Investors to Maximize Returns and Manage Risks
SAN FRANCISCO–(BUSINESS WIRE)–June 23, 2015–
HouseCanary today announced the introduction of HouseCanary Pro, a web application designed for real estate asset research, helping investors, institutions and homebuilders quickly and accurately analyze investment opportunities. At the foundation of Pro is HouseCanary’s data platform, one of the largest data mosaics in the industry housing a wide breadth of proprietary and secondary sources. HouseCanary Pro offers a simple and intuitive user experience to harness big data in the underwriting and valuation of investments. Large institutional investors and sophisticated builders are leveraging HouseCanary’s industry-leading platform to analyze housing market conditions, price forecasts, risk metrics, demographics shifts, market fundamentals and rental data across 381 US markets and 20,000 zip codes.
“Real estate markets are increasingly complex, volatile and fast changing. We built HouseCanary Pro to provide sophisticated real estate investors with the information they need to make objective investment decisions that maximize value,” says Jeremy Sicklick, CEO and Co-founder of HouseCanary. “HouseCanary Pro helps users accurately characterize the risk and opportunity in real estate to drive strategic decisions, underwriting and valuation providing users an information advantage over the competition.”
HouseCanary Pro Reduces the Guesswork Historically Inherent to Real Estate Investing
The platform houses comprehensive data, insights and predictive analytics that allow users to objectively assess when and where to invest, define consumer targets, optimize product choices and discern value. Proprietary metrics including 3-year local home price forecasts, market cycle risk metrics, submarket risk and desirability analytics are central to the application. Through data visualization and heat mapping, users are able to quickly and seamlessly digest neighborhood level trends across the market. HouseCanary Pro allows for granular analysis with data updated weekly about the latest market insights.
At the core of HouseCanary are data scientists and economists specializing in machine-based learning algorithms. The team has developed artificial intelligence forecasting algorithms unique to every submarket by systematically identifying leading indicators of local pricing change. Over the last two years HouseCanary compiled and normalized thousands of data series to fuel its models, which are the only local price forecasts in the industry updated monthly across such a vast geography. HouseCanary has achieved an extremely high degree of accuracy, with back testing yielding an average predictive r-squared above 0.9.
“Objectively assessing risk and opportunity in investments has historically been cumbersome if not impossible,” according to JP Ackerman, President at HouseCanary. “HouseCanary Pro is designed to help users maximize investment returns through seamless integration of analytics to streamline the decision-making process resulting in greater confidence in each action.”
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HouseCanary
JP Ackerman, 949-444-3600
jp@housecanary.com
http://housecanary.com