Google Searches Shed Light on Rental Prices – Part I
Jun 30, 2016 10:20:33 PM
National Average Rental Prices Unlikely to Fall This Summer
In a white paper published in 2009, Google claimed that Google Trends is able to help in predicting the present, in the sense that search volume data may be correlated with the current level of economic activity1. A growing number of academic studies have demonstrated that Google Trends can provide insights into home prices and Consumer Sentiment Index2, 3. Using CoreLogic rental price data4 and Google Trends for the category “Apartment & Residential Rentals,” a new analysis from CoreLogic shows a strong correlation between Google search interest and real rental prices (dollar per square foot)5. Read More
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