Scout Vision®: Accurate Predictive Neighborhood Home Value Forecasting
Developed by industry veterans and PhD geographers, Scout Vision uniquely solves for risk by forecasting home values with unprecedented geographic granularity and predictive accuracy:
- #1 Accuracy: Three-year property appreciation forecasts with up to 90% predictive accuracy. (5-Yr available for Scout Vision API clients)
- #1 Resolution: The highest resolution product in existence: forecasts to the micro-neighborhood (nearly 10X smaller than a Zip Code).
- #1 Coverage: 100% seamless U.S. coverage
- #1 Depth: 200+ independent factors, 35+ unique data dimensions, and 23 models undergird Scout Vision
KNOW THE PAST: NEIGHBORHOOD HOME VALUE TRENDS
Scout Vision’s® Exclusive Home Appreciation Rates
NeighborhoodScout reveals the home value trends and appreciation rates for every state, city, town, neighborhood, and micro-neighborhood in America.
NeighborhoodScout has calculated and provides home appreciation rates as a percentage change in the resale value of existing homes in that city, town, neighborhood or micro-neighborhood over the latest quarter, the last year, 2-years, 5-years, 10-years, and even from 2000 to present. We show both the cumulative appreciation rate, and the average annual appreciation rate for each time period (e.g., last 5-years: 84% total appreciation, Avg. per year: 16.8%). We also show how each city, town, neighborhood or micro-neighborhood's appreciation rate compares to others across the U.S. and within the same metropolitan area or nonmetropolitan region (e.g., 9 relative to the nation, 5 relative to the Santa Cruz-Watsonville, CA Metro Area [10 is highest]). This makes comparisons of house appreciation rates equally easy for professional investors and individual homebuyers. In this example, the neighborhood is one of the highest appreciating in the nation over the last 5-years, but is only average in appreciation for the same period relative to other neighborhoods in the Santa Cruz-Watsonville, CA Metro Area.
ABOUT THE APPRECIATION RATE DATA
Our data are designed to capture changes in the value of single-family homes at the state, city, town, neighborhood and even micro-neighborhood level. Different micro-neighborhoods within a city or town can have drastically different home appreciation rates. NeighborhoodScout vividly reveals such differences. Our data are built upon median house values per square foot in each neighborhood. The data reflect appreciation rates for the micro-neighborhood or neighborhood, not necessarily each individual property in the neighborhood.
Our data are calculated and updated every three months for each geography, approximately two months after the end of the previous quarter.
WHAT TRANSACTIONS ARE COVERED IN THE APPRECIATION RATE DATA?
Neighborhood appreciation rate data are based on transactions involving conforming, conventional mortgages. Conforming refers to a mortgage that both meets the underwriting guidelines of Fannie Mae or Freddie Mac and that doesn't exceed the conforming loan limit, a figure linked to an index published by the Federal Housing Finance Board. Conventional means that the mortgages are neither insured nor guaranteed by the FHA, VA, or other federal government entity.
Mortgages on properties financed by government-insured loans, such as FHA or VA mortgages, are excluded, as are properties with mortgages whose principal amount exceeds the conforming loan limit.