General

New Home Sales Continue Steady Rise – Metro Areas in the South Led Nation in 2017 Sales

Sales of newly built homes have had a slow, steady recovery during the last several years, and the final quarter of 2017 was on pace to have the highest number of sales in a decade (Figure 1). It’s no wonder that homebuilders’ sentiment was so rosy at year-end.  According to the latest National Housing Market Index, homebuilder confidence in December was the highest in ...

Las Vegas Experienced the Highest Annual Rent Growth in October

• Low-end segment growth was more than double high-end growth
• Hurricane Harvey showed more impacts on rent than Hurricane Irma
• Of 20 select metros analyzed, only Honolulu and Miami experienced a decrease in single-family rents in October

National single-family rent prices climbed steadily between 2010 and 2017, as measured by the CoreLogic Single-Family Rent Index (SFRI). However, the Index shows year-over-year rent growth has decelerated slowly since it peaked early last year (Figure 1). In ...

Four States Posted Double-Digit Annual Price Gains in November

• National prices increased 7 percent year over year.
• Home prices forecast to rise 4.2 percent over the next year.
• Lower-priced homes appreciated the fastest of all price tiers in November.

National home prices increased 7 percent year over year in November 2017, and are forecast to increase 4.2 percent from November 2017 to November 2018. Further, an analysis of the market by price tiers indicates that lower-priced homes experienced significantly higher gains, according to ...

The CoreLogic HPI for November 2017 showed that national home prices appreciated 7 percent from a year ago, and the CoreLogic home price forecast shows an increase of 4.2 percent over the next year. Washington state, Nevada, Utah and Idaho all posted double-digit gains. Nevada, once the poster child for the housing crisis, has been in the list of top three states for home price appreciation since August 2017.  While Nevada home prices in November 2017 were still 23 percent ...

Home Prices, Credit Availability and the Economy Drive Readership

The numbers are in and our readers have spoken. We tallied up the readership on our top 10 most-read CoreLogic Insights blogs and found that top industry executives were very focused on the health of the real estate market, both nationally and in specific markets across the country this year.

The most-read blog, by a wide margin, was a text mining analysis of public listing information using word cloud which paired certain listing ...

Forecasts Suggest a 13 Percent Gain Over the Next Year

The U.S. housing market has logged annual home-price gains over 6 percent in recent months, heightening affordability concerns. But price gains are only part of the challenge for homebuyers, who face mortgage payments that have risen about 11 percent over the past 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 something we call the ...

Loans Originated in the Third Quarter Exhibit Higher Credit Risk Than a Year Earlier

• The CoreLogic Housing Credit Index (HCI) shows higher credit risk in Q3 2017 compared with Q3 2016, but it remained within the range exhibited during the early 2000s.
• The average credit score for all borrowers – purchase and refinance combined – slightly dropped year over year from 743 in Q3 2016 to 742 in Q3 2017.
• The average loan-to-value ratio (LTV) and debt-to-income ratio (DTI) for all borrowers rose ...

A Deeper Look at the CoreLogic HPI Shows Some Losers Can Be Big Winners

Since the U.S. began recovering from the home-price bust in 2006, economists have used the peak-to-current change in prices as a measure of recovery in markets. However, the peak-to-current change hyper-focuses on economic losses for those who bought at the peak. What about consumers who bought homes while prices were at the bottom of the cycle? If someone was lucky enough to buy as a market hit ...

Sixteen Markets Signal High Risk, Ten in Florida Alone

Home prices continued to rise in many markets in Q3 2017, reflecting rising buyer demand and a low for-sale inventory. Most markets are still healthy or have relatively low risk, according to the CoreLogic Market Health Indicator. However, 16 of the top 100 metro markets – ten in Florida alone – have been identified as high-risk markets.

The CoreLogic Market Health Indicator evaluates whether individual markets have high, normal or low risk by ...

Impact of Hurricanes Evident in September Delinquency Numbers

• Early-stage delinquencies increased from a year ago
• The current- to 30-day transition rate rose sharply from year ago
• Houston and Miami posted large increases in delinquencies in September following hurricanes Harvey, Irma and Maria 

In September 2017, 5 percent of home mortgages were in some stage of delinquency, down from 5.2 percent a year earlier and the lowest for any September since 2006, when it was 4.6 percent, according to the latest CoreLogic Loan ...