New Market Condition Indicators Model Added to CoreLogic HPI and CoreLogic HPI Forecasts
Email Dan Smith
May 01, 2014, Irvine, Calif. –
—Analytics Measure Current Prices vs. Fundamental Values in 300 CBSAs—
CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled services provider, today announced it has augmented the CoreLogic HPI™ and CoreLogic HPI Forecasts™ with the addition of Market Condition Indicators, enhanced analytics that identify individual geographic markets as “overvalued,” “at value” and “undervalued.”
Market Condition Indicators was added to CoreLogic HPI (Home Price Indices) and CoreLogic HPI Forecasts as of April 2014.
The new analytics establish long-term fundamental values for 300 Core Based Statistical Areas (CBSAs) based on real disposable income per capita. The Indicators assess whether individual markets are undervalued, at value, or overvalued. An overvalued or undervalued market is defined as having a current Home Price Index of 10 percent above or below the long-term fundamental value. In addition, clients are provided data so they can set custom risk levels to meet specific cases and risk assumptions. Market Condition Indicators is available at the CBSA-level for single-family residential properties, including and excluding distressed properties. The data for the model will be updated monthly and reported within five-weeks of month-end. Each report will contain a 60-month Market Condition Indicators forecast for the top 300 CBSAs as well as historical indicators for those markets back to 1976.
“Market Condition Indicators represent a new level of sophistication for market opportunity and risk analysis,” said Olumide Soroye, managing director, CoreLogic Information Services. “It is the logical progression of our CoreLogic HPI Forecasts, and addresses the sustainability of pricing trends in specific markets. We are excited to bring this to our existing and prospective CoreLogic HPI clients, and to add it to the extensive foundation for leading market insights from CoreLogic.”
Subscribers to CoreLogic HPI and CoreLogic HPI Forecasts will automatically receive the Market Condition Indicators enhancement. Sample reports are available upon request.
CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled services provider. The company's combined data from public, contributory and proprietary sources includes over 3.3 billion records spanning more than 40 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.
CORELOGIC, the CoreLogic logo, CoreLogic HPI and CoreLogic HPI Forecasts, are trademarks of CoreLogic, Inc. and/or its subsidiaries.