The Parcl Labs Price Feed and the Case-Shiller Index are both tools for understanding real estate pricing trends, but they differ in several key aspects:
Timeliness: The Case-Shiller Index is a lagged indicator with a 2+ month delay, which means it may not accurately reflect the most recent market conditions. In contrast, the Parcl Labs Price Feed refreshes daily, giving you the most up-to-date insights into the residential real estate market.
Market Coverage: The Case-Shiller Index only represents a portion of the true market as it excludes new construction, substantially renovated houses, condominiums, co-ops, and possibly townhomes. It is also only available for 20 US markets at the very broad MSA level. Parcl Labs Price Feed, on the other hand, offers full market coverage, including all property types at varying geographies (States, Metros, Cities, etc.), for a more comprehensive view of the real estate landscape.
Methodology: The Case-Shiller Index is methodologically opaque, using a three-month moving average that can be difficult to replicate, even with identical data. The Parcl Labs Price Feed employs a transparent methodology, making it more reliable and easier to understand.
Data Sources: The Case-Shiller Index relies heavily on county records, which can take months to record sales, leading to discrepancies in the data due to varying latencies across over 3,000 counties in the United States. Parcl Labs Price Feed sources its data from a diverse range of sources, ensuring accuracy and consistency.
In summary, the Parcl Labs Price Feed offers more timely, comprehensive, and transparent information compared to the Case-Shiller Index, making it a valuable tool for those seeking accurate insights into the residential real estate market.