Coverage, freshness, and limits
What EQUIRE's data does not cover, which measurements were retired and why, and the sample-size and vintage rules applied to every figure.
This page states the boundaries. It exists because the expensive failure in a diligence tool is not a missing number, it is a related number presented as if it answered the question.
Five metrics EQUIRE does not have
These are commonly requested, and there is no source for them in this pipeline. EQUIRE reports each as unavailable, with the reason, rather than substituting a proxy.
| Metric | Why it is unavailable |
|---|---|
| Market vacancy | No public source. The occupancy figures EQUIRE holds are measured at loan securitization, which is a different measurement from a market vacancy rate. |
| Observed net absorption | Requires an occupied-square-feet time series, which no public source publishes. Postal and commuting data are demand signals, not absorption. |
| Effective rent level | REIT supplementals disclose same-store rent change by metro and sector, not a level. No free level series exists outside multifamily. |
| Concessions | No public dataset. Broker commentary only, which is not ingested. |
| Sublease square footage | Metro and submarket figures exist inside broker reports whose redistribution rights are unresolved. No property-level source is available at a cost the pipeline pays. |
If the assistant or a research tab tells you one of these is not measured, that is the correct answer and not a failed lookup. Asking a different way will not produce the figure, and a number that appears in its place should be treated as the wrong measurement rather than the right one.
This list is published by the upstream producer and read at runtime, so it reflects what is genuinely absent today rather than what was absent when this page was written.
Measurements that were retired
Three families of columns were withdrawn after they were found to mean something other than their names suggested. None of them is quoted as a market figure anywhere in the product, and the metro-index read strips them before the assistant sees the row.
A vacancy column that was not vacancy. It held 100 minus physical occupancy at securitization. Read as market vacancy it was wrong twice over: wrong measurement, and wrong date. It read as exactly zero on a large share of rows. Its metro-ranking companion ranked markets on the same column and went with it.
Blended cap rate and price per square foot. These pooled valuations struck at securitization with broker asking quotes into one distribution without publishing the mix, so a gap between two metros could be a composition artifact rather than a market difference. Each is replaced by a stated-basis pair: an appraised-at-securitization figure and an asking figure, each carrying its own sample count.
An occupancy column under an ambiguous name. It was identical to the occupancy-at-securitization figure but did not say so in its name. The honestly named twin is used instead, and it ships a sample count.
Sample sizes travel with the figure
A median over three observations and a median over three hundred are not the same claim, so EQUIRE reports the count alongside the figure rather than presenting bare medians.
Two thresholds are enforced in code. A median is qualified only at three or more observations. Quartiles are withheld below five, so the Market research distributions that would otherwise show a range show the median alone and disclose the count behind it. A median published below the qualifying count is labelled preliminary rather than presented as a settled figure.
Geography
Coverage is metro-level, using Census CBSA definitions. 925 metros carry economic indicators; 741 carry the CRE metro index; 832 appear in the listing inventory.
No normalized submarket dataset is connected. A market report you link to a deal can still contribute submarket evidence, but it stays labelled by its own source, grain, and period, and does not replace the metro index.
Freshness
Three different dates attach to any figure, and conflating them is the common error:
- The observation date. When the underlying thing was measured or filed. This is the one that matters for underwriting.
- The index refresh time. When EQUIRE last rebuilt the joined metro index. A freshly refreshed index can still carry old observations.
- The research run time. When you last ran Market research on the deal.
Market research shows these separately in Sources & basis. Do not read a recent refresh as recent data.
Vintages differ by series and are not forced onto a common calendar. Monthly labor series run within a couple of months of current; some business dynamics and migration series lag by two to three years because that is the agency's publication cadence.
When a read fails
A failed read is an unresolved comparison, not adverse evidence. If an index read fails, Market research says the comparison could not be resolved and keeps the comparisons that did resolve. It does not fall back to a different basis to fill the gap, and it does not report a gap as a finding against the deal.
Related
- CRE market evidence for what each basis measures.
- Economic and demographic indicators for the metro layer and its computed scores.
- Review and release for how preliminary versus released deal data is disclosed.
Last updated on
Economic and demographic indicators
205 metro-level metrics across 17 categories, the agencies that publish them, and which ones are computed rather than observed.
Data Isolation
How organization-level data isolation is enforced for EQUIRE tenants—database row security plus API checks—and where deliberate exceptions apply (sharing, platform operations).