The Las Vegas-based housing research firm SalesTraq has been sold to Applied Analysis, a principal for the business advisory firm said Tuesday.
Financial terms were not disclosed.
SalesTraq has provided monthly statistics on the Las Vegas housing market for nearly 20 years, including new and existing home sales, median prices and building permits. The firm's clients include home builders, real estate agents, mortgage lenders and developers.
"We're bringing on an existing operation that's been successful over the last two decades and has a good track record," Applied Analysis principal Brian Gordon said. "It's not only a benefit for Applied Analysis, but it also provides an opportunity to expand the services offered to SalesTraq customers."
Gordon said he talked to SalesTraq owner Larry Murphy about their businesses a number of times in the past five years. The current housing climate and Murphy's decision to leave the business made sense for both parties, Gordon said.
Applied Analysis plans to expand SalesTraq's business platform throughout the West, Gordon said. The acquisition provides instant access to SalesTraq's subscriber database and its archived catalog of nearly 20,000 floor plans of Nevada homes.
"The SalesTraq.com tool is an amazing website that serves not only analysts and researchers, but also the real estate community of Realtors and homebuilders," Gordon said.
Applied Analysis' strategy is to integrate products and services that complement the company's core research, and to enhance and expand Web-based and traditional research services provided to SalesTraq customers.
Murphy, who joined SalesTraq in 1993 and bought out business partner Don Brown in 2000, will work in a transitional consulting capacity for a year. He said selling his business during the housing downturn is like selling a home in a buyer's market.
The business peaked in 2005 and 2006, when just about every major home builder and real estate company in Las Vegas subscribed to SalesTraq, Murphy said.
"My business is an exact image of the market. You could look at my chart of home prices and label that the present value of SalesTraq.
"I hate to give it up at the bottom of the market. I think it's going to turn around," Murphy added. "But I don't have time to wait for it. I'm not getting any younger.
"After 20 years, I look around and I'm always the old guy in the room. Let the young guys with vim and vigor go out and conquer the world. That's the way it should be. Now it's my time to enjoy the world," Murphy said Tuesday before rushing off to make his golf tee time.
The immediate transition should appear seamless for SalesTraq customers with the exception of some upgrades to the look of the company's website and the layout of its reports, Gordon said.
SalesTraq will continue to offer its full line of services, including SalesTraq and SalesTraq Pro, the monthly Fast Facts report and Crystal Ball housing seminars.
Applied Analysis was founded by Jeremy Aguero in 1997. The firm provides information and analysis for the public and private sector, specializing in market research, urban economics, public policy analysis, litigation support and finance.
Contact reporter Hubble Smith at firstname.lastname@example.org or 702-383-0491.