Market Update: Mid January

What Parcl Traders Need to Know

• As of 1/15, the eight tradable North American Parcl markets are down 0.5% MTD in ppsft terms. Including nine additional markets that are not yet tradeable on v3, the markets are down 0.2%.
• Chicago (+0.1% MTD) and Los Angeles (-4.6% MTD) are the two most recent markets launched in early January. 
• MTD leaders include Austin (+3.3% MTD) and Boston (+3.0%). Laggards are Los Angeles (-4.6% MTD), San Francisco (-3.3%), and Washington D.C. (-2.3%).
• Some residential real estate markets, such as San Francisco, Portland and Washington D.C. experienced meaningful price declines YoY, while Miami Beach and Chicago were the YoY outperformers. The USA price feed grew 8% YoY.
• Parcl traders remain balanced, ~50:50 in all markets, with daily funding rates averaging at +0.006% (+2.2% annualized).
• Following the Parcl v3 launch in November, total open interest (OI) across all indices has surged above $13 million — an all-time high. Miami Beach, Las Vegas and Austin marked the highest OIs.

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Parcl will have many more global locations coming soon! Stay tuned.

The State of Real-Time Real Estate Prices

Residential real estate prices are down 0.9% MTD in ppsft terms. This compares to a pronounced -2.4% in December, -0.4% MoM in November and -0.8% MoM in October.

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MTD leaders include Austin (+3.3% MTD) and Boston (+3.0%). Laggards are Los Angeles (-4.6% MTD), San Francisco (-3.3%), and Washington D.C. (-2.3%).

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Washington D.C., Portland and Austin fell off 24%, 19.7% and 19.1% from their highs, while Miami Beach and Atlanta registered the lowest declines compared to the US index.

What are Parcl traders doing?

Parcl traders are balanced ~50/50 in all markets, with daily funding rates averaging at +0.006% (+2.2% annualized).

Total open interest (OI) across all indices surged above $13 million, with Miami Beach, Las Vegas and Austin registering the highest figures.