Detroit’s Rocket Homes introduced its Neighborhood Trend Reports, a multi-purpose resource that provides consumers with clear and easy-to-understand information about local housing markets.
The reports include the localized median home price and how it’s trending, whether the area is a buyer’s or seller’s market, the number of homes for sale in the area, the share of homes that were sold under or over asking price and how fast homes are selling. All data is compared to the previous year so consumers can see the trend.
“By bringing the Neighborhood Trend Reports to market, we’ve taken another step forward in our mission to simplify the home buying and selling process,” says Sam Vida, president of Rocket Homes. “Information is power, and that power is now in the hands of consumers instead of just living with the professionals who study the local housing markets every day. Once they have this information, they can use it to make informed decisions when considering buying or selling a home.”
In the coming months, Rocket Homes says it will launch Property Reports, displaying information similar to the Neighborhood Trend Reports, but on individual residences. With Property Reports, consumers will be able to see details about a home, get an estimate of the home’s value, and see how it compares to properties in close proximity. This will help homeowners track the status of their own home, while giving potential buyers valuable insights as they consider making a move, according to Vida.
In addition to the Neighborhood Trend Reports, Rocket Homes’ website has grown since its launch a little more than a year ago, the company says. The search site – RocketHomes.com – has grown to include 1.6 million listings, which represents more than half of all homes that are listed for sale throughout the country.
“At Rocket Homes, we are passionate about simplifying the real estate process by seamlessly connecting home search, local agents and, through a partnership with Rocket Mortgage, the mortgage process,” says Doug Seabolt, CEO of Rocket Homes. “Through our integrated approach, we are able to reduce the stress and confusion that is often associated with buying a home, allowing people to enjoy it as the exciting time it should be.”
Rocket Homes says it still is focused on its initial goal of matching home buyers and sellers across all the country with qualified, vetted real estate agents. The company has a network of more than 25,000 agents across all 50 states and 3,100 counties in America.