Data. Gains and losses. Market trends. That is the purpose of The TAR Scorecard, a new monthly publication by the Tucson Association of REALTORS® (TAR). The TAR Scorecard gathers data from different independent sources in an effort to outline a broader perspective of the region’s overall real estate and housing market.
“As a comprehensive overview, Scorecard looks beyond the routine TAR Multiple Listing Service report. Using mostly raw data, the objective is to identify emerging trends in various sub-sectors,” said TAR CEO Philip Tedesco, RCE, CAE. “In a way, it is an early warning sign of significant changes coming in the market.”
Scorecard collects data on various components such as home sales, prices, listings, foreclosures, land sales, mortgage rates, new construction and unemployment, with a sprinkling of statistics mixed in from the commercial real estate sector.
For many people in the real estate industry, the tendency is to concentrate on data in their specific subsector, the so-called “silo” view.
“With that type of narrow focus, these subsectors may not appear to be interrelated. Yet over time, these separate patterns ultimately converge to affect the entire real estate and housing market. Hopefully, Scorecard can outline those indirect connections,” said Tedesco.
The publication launched in July and has included sources such as Cushman & Wakefield/PICOR, Bright Future Real Estate Research, Southern Arizona Mortgage Lenders Association, Pima County, Chapman Lindsey Commercial Real Estate Services, and Pima County Real Estate Research Council.
Scorecard has value to audiences outside the real estate and housing industry as well, according to Tedesco. It can be an additional resource for planners, architects, investors “and to the general public who want to stay current on trends.”
TAR does not interpret any statistics, serving only to aggregate the data. The TAR Scorecard is available online at:
http://www.tucsonrealtors.org/news.html
http://www.tucsonrealtors.org/statistics.html