Econometric Forecasting Lead

Description

• Provide ongoing education to analytics team on forecast updates and drivers and forecast accuracy.
• Develop and innovate new forecast models for specialty real estate sectors, nowcasts, space-level analytics, and other emerging real estate markets.
• Continually explore new economic inputs and refine existing variables and coefficients to enhance the precision and accuracy of existing forecasting models.
• Lead communication of forecast process, guidelines, results, and updates to external customers, including back testing and accuracy review. Assist customers with model validations.
• Work with the analytics team to serve up data for the development of dashboards to track forecast accuracy, making insights actionable for analysts, department leaders, and executives.
• Conduct independent and creative quantitative research applied towards the evaluation, tracking, and improvement of CRE models, data series and estimations
• Maintain clear documentation on forecast models and methodologies, including explanation of inputs, variables, etc.
• Lead and refine the quarterly review process for forecast accuracy, incorporating feedback from analysts and external factors to improve models.
• Monitor and track forecast accuracy using defined metrics (e.g., RMSE, MAE), providing regular reports on accuracy/back testing and serving up data points used.

Requirements

• Hands-on experience working with large data sets.
• Strong proficiency in SQL (SSMS/Databricks), R, Python, for data manipulation, analysis, and modeling (proficiency in Stata a plus).
• Experience with Python-based common data science tools such as Jupyter Notebooks, Numpy, Pandas, Scikit-learn, etc.
• Exceptional communication skills, with the ability to explain complex models to non-technical stakeholders.
• Experience in space-level analytics or granular building data modeling.
• 5-7+ years of relevant experience in years of experience in econometric modeling, quantitative analytics, or commercial real estate forecasting.
• Expertise in econometric models, including regression analysis, time series forecasting, and advanced statistical techniques.
• Strong understanding of commercial real estate dynamics, market drivers, and forecasting challenges.
• Advanced degree (Master’s, PhD) in econometrics, statistics, data science, or related field
• Master’s degree in econometrics, statistics, data science, or related field
• Familiarity with cloud platforms (e.g., AWS, Azure) and data migration processes.
• Proven experience in developing and refining forecasting models.
• Proactive and self-driven, consistently taking initiative to identify and implement improvements.
• Experience writing clean, reproducible, robust, and scalable analysis code
• Highly organized with heightened attention to detail

Benefits

• 401(K) retirement plan with matching contributions
• Complimentary gourmet coffee, tea, hot chocolate, fresh fruit, and other healthy snacks
• Comprehensive healthcare coverage: Medical / Vision / Dental / Prescription Drug
• Tuition reimbursement
• Commuter and parking benefits
• Access to CoStar Group’s Diversity, Equity, & Inclusion Employee Resource Groups
• Virtual and in person mental health counseling services for individuals and family
• Life, legal, and supplementary insurance
• Employee stock purchase plan
• Paid time off
• On-site fitness center and/or reimbursed fitness center membership costs (location dependent), with yoga studio, Pelotons, personal training, group exercise classes

Training + Development

Interview process

Visa Sponsorship

Security clearance