This week we have launched the rpdata.com Market Activity Index which provides arguably the best leading indicator of where market activity is heading. The Market Activity Index monitors activity on the rpdata.com professional system including the volume of Comparative Market Analysis (CMA) reports being undertaken by real estate professionals. On average, CMA volumes lead sales activity by about two months providing one of the timeliest leading indicators available in the residential property market.
So the index of market activity is real estate agents comparing settlement prices (CMA) and doing other inquiries on RPData
The New Year is certainly starting with bang. Anecdotally we are hearing that many real estate agents have cut their holidays short due to unexpectedly high prospective vendor enquiries. Also, pre-listings activity from real estate professionals is already higher than at any time over the last two years suggesting that the amount of stock about to come on the market is going to start ramping up over the coming month.
