CoreLogic Announces Enhancements to Leading Home Price Index Products
Real Estate Industry and Trade Media
Campbell Lewis Communications
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August 23, 2016, Irvine, Calif. –
This press release was updated on March 27, 2017.
—CoreLogic HPI Now Offers Expanded Geographic Coverage; Introduces New 30-Year CoreLogic HPI Forecast—
CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today announced several enhancements to its CoreLogic HPI™, CoreLogic HPI Forecasts™ and Market Condition Indicators products.
CoreLogic Home Price Index (HPI) has been enhanced with nearly one million additional repeat sales records from proprietary data sources that will provide greater transparency into home price changes nationwide. The increased transparency is particularly useful in 14 non-disclosure states (e.g., Texas and Missouri) where sales data is limited or unavailable. Also, a new modeling methodology has been added to weight outlier pairs, ensuring increased consistency and reducing month-over-month revisions.
In addition, CoreLogic HPI Forecasts have been refreshed with the improved CoreLogic HPI indices and updated macroeconomic drivers. The forecast horizon has also been expanded from five to 30 years to enable modelers to estimate expected credit losses or provide loan and portfolio-level analytics over the entire life of a typical mortgage.
Subscribers to CoreLogic HPI or CoreLogic HPI Forecasts, also receive Market Condition Indicators, an enhanced analytic that identifies individual geographic markets as “overvalued,” “at value,” and “undervalued,” relative to the long-term equilibrium determined for each market. This release expands the coverage provided by Market Condition Indicators, adding 41 new Core Based Statistical Areas (CBSAs). The underlying econometric models have also been refreshed in current estimates of market conditions. Additionally, the Market Condition Indicators forecast period has been extended from five to ten years providing a longer view on potential market movements.
“Home prices are a key driver in understanding the current and forecasted conditions of the housing market. These enhancements to our CoreLogic HPI suite of products will provide our clients industry-leading market intelligence with expanded coverage across the country and additional visibility into price changes in non-disclosure markets,” said Devi Mateti, senior vice president, Analytic Solutions at CoreLogic. “In addition, users will greatly benefit with improved accuracy and timeliness with fewer revisions and longer forecast time horizons.”
CoreLogic HPI provides the most comprehensive, early view of current home price trends. Built on industry-leading public record, servicing and securities real estate databases, CoreLogic HPI incorporates over 40 years of repeat sales transactions for analyzing historic, current and future home price trends and producing multi-tier, multi-level market evaluations. CoreLogic HPI is the most current, comprehensive set of home price indexes available in the market.
For more information about CoreLogic HPI and CoreLogic HPI Forecasts, please visit http://www.corelogic.com/solutions/real-estate-analytics-solutions.aspx.
CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled solutions provider. The company's combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, and the public sector. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic operates in North America, Western Europe and Asia Pacific. For more information, please visit www.corelogic.com.
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