Lombard, IL (PRWEB) April 3, 2007
BIRDVIEW Technologies sees strong indications of an upturn in the national housing market. BIRDVIEWÂs proprietary Real Estate Activity (REA) Index, a measure of consumer activity gathered across the entire network of real estate brokerages and agents who are BIRDVIEW customers, is at the heart of the forecast. Recent increases in pending home sales as well as unit sales, as reported by the National Association of Realtors, further support BIRDVIEWÂs findings.
ÂWeÂve developed our index over the past decade and have observed correlations with actual transaction activity. While itÂs not a definitive leading indicator, weÂre impressed by the indexÂs past predicative qualities,Â said Bedros Bedrosian, President and Co-founder of BIRDVIEW Technologies. In late 2005, for instance, BIRDVIEWÂS REA Index accurately forecast the market downturn a quarter before the market peaked. The same indicators are now signaling an increase in buyer activity that could translate into a leveling off or even a greater pace of home sales throughout 2007.
For a decade, sellers have been raising their prices, triggered by the biggest boom in real estate history. The market reached a peak in late 2005 as buyers began holding back, which led to decreases in home sales and lower Internet buyer activity in 2006.
However, after a year, sellers now appear to be accepting that the market can no longer bear such high asking prices and are pricing their properties more appropriately, in alignment with actual market conditions and as evidenced by recent declines in national median home prices. This important change may be the crux of the recent upturn in BIRDVIEWÂS activity index.
With more then 80% of homebuyers now turning to the Internet, according to the National Association of Realtors, the Internet has become an important predictor of housing market conditions. Each month, BIRDVIEW measures online activity representing some 2 million consumers across the country. BIRDVIEW subsequently publishes a quarterly newsletter to report on this activity, which is customized for each of its brokerage clients. The customized newsletter compares monthly consumer activity for each clientÂs web site to median activity throughout BIRDVIEWÂs national client base.
About BIRDVIEW Technologies
BIRDVIEW Technologies, http://www.birdview.com, combines a consultative approach with innovative technologies to help real estate brokerages build a better online business. The CompanyÂs suite of web-based solutions helps Brokers capture millions of home buyers as well as manage, cultivate and distribute leads. Active in 31 states and over 160 local MLSes, BIRDVIEW helps Brokers attract and retain top performing agents, resulting in a more profitable business.