VeroHPI

The index is constructed using a methodology that is widely accepted as one of the most accurate ways to determine residential real estate price changes – repeat sales models

VeroHPI

The index is constructed using a methodology that is widely accepted as one of the most accurate ways to determine residential real estate price changes – repeat sales models

Improving Market Knowledge

Veros’ proprietary home price index, VeroHPI is both an old and new offering from Veros Real Estate Solutions. Since the company was founded in 2001, this historical home price index (HPI) has been an integral part of many of the company’s proprietary analytic products and reserved for exclusive use in Veros-created tools. Among those are the company’s flagship automated valuation model (AVM), VeroVALUE, and the other AVM variations included in the VeroVALUE suite such as VeroVALUE REO, VeroVALUE Preferred, etc. VeroHPI is also used extensively in VeroFORECAST, the company’s future-looking residential real estate market forecast tool.

VeroHPI provides lenders, secondary marketers, servicers and analysts with direct access to robust trending logic. The index offers national coverage and is available at the CBSA (county-based statistical area) or FIPS (Federal Information Processing Standard) levels.

Development & Methodology

VeroHPI was developed and is maintained by expert statisticians, mathematicians, and econometricians. The index is constructed using a methodology that is widely accepted as one of the most accurate ways to determine residential real estate price changes – repeat sales models.

Repeat sales models are the foundation of VeroHPI, though the index also employs time series models where data indicates a repeat sales model does not provide the optimal fit.

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Features

Houses in water and bubbles

Is housing in a bubble that’s about to burst?

Spoiler: No Concern keeps growing over where house prices are headed for consumers caught in the supply and demand scenario that has sent prices soaring in the post-pandemic market. Google reported last week that the search question “When is the housing market going to crash?” had spiked 2,450% in the past month. “Why is the

VeroFORECAST Housing Market Report

Veros Reports Home Prices Set to Increase 7% by the First Quarter of 2022

By Q1 2022, the overall average forecast is 7%, an additional increase of 1.1 percentage points compared to 5.9% just a quarter ago. This level of change from one quarter to the next is heavily driven by strong markets, primarily in the West. “The VeroFORECAST data indicates upward price pressure in nearly all markets during 2021,” said Darius Bozorgi, CEO of Veros Real Estate Solutions. “Buyer demand remains strong with almost no major metro area showing notable home price depreciation over the next 12 months.”

Boise, ID Home Price Growth

HOT TREND: Home price growth in Boise City, Idaho, explained

The COVID-19 pandemic revealed new migration trends that show a shift toward the inner  United States, thereby boosting home prices, especially in markets such as Boise City, Idaho. The bigger question remains: is this growth likely to continue into 2021? Or is this just a hot trend that will fizzle out sooner than later. Digging

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