Have you moved to another state recently? Perhaps the COVID-19 pandemic had influenced your decision to migrate to a less-affected state in 2020?
In this episode of The Data Standard, host Catherine Tao sits down with Matt Larriva, Director of Research and Data Analytics at FCP, to talk about domestic net migration.
He talks about his idea for figuring out where people were going since the pandemic hit. He needed real-time data on county-to-county domestic net migration, but the available sources aren’t updated frequently.
To get updated migration patterns, he leveraged data science and analytics and found that people were looking for opportunities to migrate to another state in 2020 more than ever.
He goes into detail about analyzing real estate prices, forecasting cap rates, and adding value to analytics through statistics, particularly by parsing time series data, especially multivariate time series.
One of his successful projects had to do with forecasting REIT prices using machine learning methods, such as random forests.
Tune in with Catherine Tao to listen to this episode and find out more about Matt Larriva’s exciting data science and analytics projects.