This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Trulia Reveals 'Crystal Ball' Home Price Predictor

NEW YORK (MainStreet) -- National home and real estate websites are in a heated competition to generate the most up-to-date, accurate home sales figures.

That's good news for homeowners, who are getting more help figuring out the accurate value of their home before they sell it, and for homebuyers who want to peg a good price on a home before they make an offer.

The latest salvo on that front really has a unique twist - it's a new technology from Trulia that calculates the short-term future price of U.S. homes and rentals.

Homeowners hoping to wait out the housing bust of the past few years will find Trulia's newest price forecasting tool quite useful.

The new technology, called the Trulia Price Monitor and the Trulia Rent Monitor, aims to take a stab at providing what Trulia calls "leading indicators" on home and rental price trends across the U.S.

Information released by Trulia show the Price Monitor is expected to "reveal monthly home prices and rent estate trends, specifically showing price patterns several months ahead of the leading sales price indexes, nationally and locally in the U.S.'s top 100 metros."

"Based on the for-sale homes and rentals listed on Trulia.com, these Monitors take into account changes in the mix of listed homes, reflecting trends in prices and rents for similar homes in similar neighborhoods through March 31, 2012," Trulia says in a statement released Wednesday. The Price Monitor is officially being released today, according to company sources.

Trulia says that current home pricing models reflect events that have already taken place in the economy and in the real estate sector. The difference with the Pricing Monitor, the company says, is that takes into account events that are happening now to provide
a more current indicator of housing market trends. The monitor will be released at the start of every month, Trulia says.

"With all eyes on the lookout for signs of home price increases now that sales and construction are improving, the Trulia Price Monitor is the finger on the pulse of price trends almost in real time," explains Jed Kolko, Trulia's chief economist, in a statement. "Asking prices lead sales prices by two or more months, and sales price indexes have a five-to-eight week lag in reporting. That means the Trulia Price Monitor can detect price movements - such as the 1.4% quarter-over-quarter increase in March - at least three months before the major sales-price indexes do."

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,880.36 -31.75 -0.19%
S&P 500 1,970.07 +0.12 0.01%
NASDAQ 4,462.9020 +20.2040 0.45%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs