{"id":1004131391,"date":"2015-11-12T07:50:55","date_gmt":"2015-11-12T15:50:55","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004131391"},"modified":"2020-04-29T08:42:51","modified_gmt":"2020-04-29T16:42:51","slug":"auction-com-launches-new-cre-nowcast","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/auction-com-launches-new-cre-nowcast\/","title":{"rendered":"Auction.com Launches New CRE Nowcast"},"content":{"rendered":"<p><a href=\"https:\/\/www.auction.com\/\" target=\"_blank\" rel=\"nofollow\">Auction.com<\/a>, the nation\u2019s leading online real estate marketplace, has launched the first Commercial Real Estate (CRE) Nowcast, a new pricing index that combines Google Trends data, Auction.com\u2019s proprietary transaction database and investor surveys to forecast CRE pricing trends <em>in real time<\/em>. The CRE Nowcast reveals that commercial valuations in October have increased by 20 basis points from September, the smallest increase in nearly five years, with price declines in two of five property segments.<\/p>\n<p>Three property segments saw valuations increase in the month: Office (+50 basis points), Industrial (+200 basis points) and Hotel (+120 basis points), according to the new pricing index. Retail valuations were off slightly, down 20 basis points, while Apartments was the weakest of all sectors, down 250 basis points.<\/p>\n<p>\u201cWhile it\u2019s certainly too early to speculate about whether CRE market prices have peaked, the relatively weak showing in this month\u2019s index certainly bears watching,\u201d said Auction.com Executive Vice President Rick Sharga. \u201cYear-over-year price growth is still healthy across the board, and sales volume remains strong, so we could be looking at a one-month anomaly rather than the beginning of a downward trend.\u201d<\/p>\n<p>Auction.com Chief Economist Peter Muoio cautioned against reading too much into a single month of data. \u201cThis could just be the market taking a bit of a breather from its strong run-up,\u201d he said. \u201cThat wouldn\u2019t be much of a surprise following August\u2019s stock decline and with the continued uncertainty regarding whether the Fed will raise interest rates any time soon.\u201d<\/p>\n<p>Auction.com plans to issue its CRE Nowcast at the beginning of each month after combining transactional data, related online search activity indicating purchase intent and investor survey results. The company runs multiple versions of the Nowcast model and layers in additional variables every day to improve its accuracy in predicting pricing trends across CRE sectors in key U.S. markets. Future iterations will include regional, local and individual asset-based price indicators. By analyzing <em>current<\/em> market conditions as opposed to only historical data, Auction.com is able to provide more relevant and timely insight to real estate investors, economists and government entities alike.<\/p>\n<p><strong>October Nowcast Results: All price indexes are rebased at 100 from January 2010 <\/strong><\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/11\/graph1.png\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004131392\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/auction-com-launches-new-cre-nowcast\/graph1\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/11\/graph1.png\" data-orig-size=\"570,147\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"graph1\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/11\/graph1.png?w=570\" class=\"alignnone wp-image-1004131392 size-full\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/11\/graph1.png\" alt=\"graph1\" width=\"570\" height=\"147\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/11\/graph1.png 570w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/11\/graph1.png?resize=300,77 300w\" sizes=\"auto, (max-width: 570px) 100vw, 570px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/11\/graph.png\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004131393\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/auction-com-launches-new-cre-nowcast\/graph\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/11\/graph.png\" data-orig-size=\"997,431\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"graph\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/11\/graph.png?w=997\" class=\"alignnone  wp-image-1004131393\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/11\/graph.png\" alt=\"graph\" width=\"620\" height=\"268\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/11\/graph.png 997w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/11\/graph.png?resize=300,130 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/11\/graph.png?resize=768,332 768w\" sizes=\"auto, (max-width: 620px) 100vw, 620px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>The Auction.com CRE Nowcast is a new price index covering the entire U.S. commercial market, including individual price trends for each major market sector\u2013 Office, Apartments, Retail, Industrial and Hotels.<\/p>\n<p>The Auction.com CRE Nowcast is based on data modeling developed by Google Chief Economist Hal Varian, who defines \u201cnowcasting\u201d as \u201ccontemporaneous forecasting\u201d \u2013 the ability to predict what is happening as it occurs. Following Google Capital\u2019s investment in Auction.com last year, the company consulted with Varian and applied his theories by combining publicly available and anonymous Google Trends data with its own proprietary transactional data to create a model for accurately predicting current commercial real estate activity. This data is supplemented with \u201creal human\u201d input through Auction.com\u2019s partnership with Situs and their Real Estate Research Report (RERC).<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New pricing index leverages Google Search data and Auction.com transactions to give commercial real estate investors and brokers real-time market intelligence.<\/p>\n","protected":false},"author":1269,"featured_media":1004131393,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[23891,21742],"tags":[],"class_list":["post-1004131391","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Auction.com Launches New CRE Nowcast - 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