Market Update: December and 2023 Recap
Final December data shows the sixth consecutive MoM dip across seventeen real estate markets
Parcl Team
Jan 2, 2024
What Parcl Traders Need to Know
Six tradable North American Parcl markets are down -2.08% MoM in aggregate ppsft terms. Considering markets that aren’t yet tradable on V3, performance was down 2.4% MoM.
In 2023, the tradable v3 markets were up 2.4% — including the non-tradable markets, the performance was up 2.1%.
MoM, some real estate markets like Denver (-7.1%), San Francisco (-6.8%) & Washington D.C. (-5.9%) experienced meaningful price declines.
In 2023, Portland emerged the biggest laggard (-7.9%), followed by San Francisco (-5.9%) and Washington D.C. (-3.8%).
Parcl traders remain balanced, ~50:50 in all markets, with daily funding rates averaging at 0.14%.
After the Parcl v3 launch in November, total open interest (OI) across all indices surged above $7 million — an all-time high. Miami Beach, Las Vegas and San Francisco marked the highest OIs.
Parcl will have a lot more global locations coming soon! Stay tuned.
Parcl Team
