Economists use various methods of using data to predict the future of the Boston real estate market. One person that I follow is Matthew Garder, and in this week’s video, he describes one metric that is gaining popularity. Its call high-frequency data.
What is high-frequency data
High -frequency data would include Apple iPhone travel, airplane travel, weekly mortgage applications, and a few other economic indicators you might find interesting. If you don’t have time to listen/watch to this interesting video, let me sum it up: We’re not out of the woods yet, but we have signs of hope.
Boston Real Estate telltale signs
Here are some telltale signs of how the Boston real estate market might be doing in the future:
- Applications for new real estate mortgages ending last week up 21% (this does not include refinancing).
- Viewing of residential real estate listings nationwide up 51%.
- Real estate inventory nationwide down.
- Unemployment steady, in other words, near-record highs.
- Apple iPhone travel plans in a car up
- Air Travel – 576,514 took to the sky down 79% the same time last year.
- Hotel and food industry combine employs 14 million people, still hurting.