General

The CoreLogic Home Price Index ended 2017 with strong gains. The December HPI rose 6.6 percent from a year ago, and the full-year 2017 HPI was up 5.9 percent over the full year 2016. The HPI returned to the 2006 peak in October, and prices in 35 states have completely recovered losses from the housing crisis. The continued rapid appreciation, especially in the low-priced market, now turns the spotlight on affordability. To learn more, click the link to get the ...

Low-End Single-Family Rent Growth Outpaces High-End – Rents Effected By Same Pressures As Home Purchase Market

It is well known that there are affordability issues in the home purchase market, but there is less information on the single-family rental market, which makes up one-half of residential rentals. The CoreLogic Single Family Rental Index reflects rents paid on single-family houses and condos, and using this index we can dissect rent growth by both price tier and metro area.

Figure 1 shows the 12-month ...

CoreLogic and Office of the Chief Economist Identify Trends to Watch in 2018

Led by Executive and Chief Economist Dr. Frank Nothaft, the Office of the Chief Economist (OCE) at CoreLogic frequently delivers analysis, commentary and forecasting trends in global real estate, insurance and mortgage markets, through keynote speeches at sponsored events and moderated panels, as well as in blog posts and reports.

Over the past few months, many of us have been wrapped up in the holiday season, so you may ...

Improving income verification and calculation by leveraging digitized data and technology

One of the big stories in 2017 has revolved around the innovations at the front-end of the digital mortgage experience. New point of sale (POS) solutions have made significant headway in taking the pain and hassle out of applying for a mortgage. Lost in all the industry headlines, however, is the ongoing disconnect between the digital consumer experience and the cobbled together, often manual underwriting processes.

Unfortunately, many underwriters are still ...

Homes appraised above contract price had above-market appreciation rates

For homebuyers, the outcome of appraisal is one of these three scenarios: (1) appraised value closely matches sales price, (2) appraisal falls short of sales price or (3) appraisal is higher than sales price. If a home sells for less than its appraised value, does that mean that the buyers got ‘a bargain,’ and should anticipate above-average appreciation during their ownership period?  Conversely, if a home sells for more than its appraised ...

Forecasts Suggest a nearly 13 Percent Gain Over the Next Year

U.S. home prices have risen more than 6 percent over the last year but that’s only part of the challenge for home shoppers, who face mortgage payments that have risen about 12 percent year over year because of higher mortgage rates.

One way to measure the impact of inflation, mortgage rates and home prices on affordability over time is to use what we call the “typical mortgage payment.” It’s a mortgage-rate-adjusted ...

More Than Half of the Potential Locations Considered Overvalued Markets

CoreLogic has reviewed home price trends in the cities that are being considered for the “second headquarters” for online retail giant Amazon. All the cities on the shortlist* are experiencing home price increases. Some cities have even exceeded the national average of 6 percent. Figure 1 represents a snapshot of the data:

*CoreLogic does not monitor the Toronto, Canada market

Whatever decision Amazon makes will certainly be a boon for the selected city. ...

Early-Stage Mortgage Delinquencies Elevated Post Hurricanes

• Early-stage delinquencies increased from a year ago
• Florida and Texas among states with the highest delinquency rates in October
• Miami’s delinquency rate the highest among metros in October

In October 2017, 5.1 percent of home mortgages were in some stage of delinquency, down from 5.2 percent a year earlier and the lowest for any October since 2006, when it was 4.5 percent, according to the latest CoreLogic Loan Performance Insights Report. The measure includes all home ...