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CoreLogic Econ

LATEST CORELOGIC ECON TWEETS

Getting a Housing Market Pulse

Has the Mortgage Market Hit Bottom?

Mark Fleming    |    Housing Trends, Mortgage Trends

As Chief Economist for CoreLogic, I am lucky enough to travel the country and speak to audiences of real estate and housing finance experts about the U.S. housing and mortgage markets. After presentations, I am often asked for copies of the accompanying slides, but static images without me speaking to them is just not the same. To solve this problem, this summer I began recording my housing market presentations in a studio so they can be shared more broadly. I never thought I would be...

Cash Sales Made Up 33 Percent of Total Home Sales in June

Cash Sales Share Is the Lowest Since the Start of the Financial Crisis

Molly Boesel    |    Housing Trends

Cash Sales Share by Sale Type

Cash sales made up 33 percent of total home sales in June 2014, the lowest share since September 2008 (considered the unofficial start of the financial crisis), and down from 36.3 percent in June 2013. While the cash sales share also fell month over month from the 34.4 percent reported in May 2014,  cash sales share comparisons should be made on a year-over-year basis due to the seasonal nature of the housing market. The share has fallen year over year  each month since January...

Foreclosure Inventory Down 34 Percent Nationally From a Year Ago

New England’s Recovery On Par with the U.S.

Sam Khater    |    Housing Trends

Distressed Inventory Continues to Shrink

Last week CoreLogic reported that the national foreclosure inventory fell by 34 percent year over year in July 2014 to approximately 640,000 homes, or 1.3 percent of all homes with a mortgage, down from 976,000, or 2.4 percent, in June 2013. This marks 33 months of continuous year-over-year declines in the inventory of foreclosed homes, including 18 straight months of declines greater than 20 percent, as shown in Figure 1. Also in July, the 12-month sum of completed foreclosures continued...

July 2014 Home Prices Increased 7.4 Percent Year Over Year

Strongest Year-Over-Year Price Growth Is in the Low-Price Segment

Molly Boesel    |    Housing Trends

Figure 1: YoY HPI Growth For 25 Highest Appreciating States

Today, CoreLogic reported that July 2014 national home prices increased by 7.4 percent year over year, and by 1.2 percent month over month. This marks the 29th consecutive month of year-over-year increases in the CoreLogic Home Price Index (HPI). Excluding distressed sales, home prices increased 6.8 percent from July 2013 and were up1.1 percent from the prior month. Including...

Distressed Sales Accounted for Just 11 Percent of Total Home Sales in June

June Distressed Sales Fell on a Year-Over-Year Basis For the 19th Consecutive Month

Molly Boesel    |    Housing Trends

Distresses Sales as percentage of Total Sales

Distressed sales (REO and short sales) accounted for 11.4 percent of total home sales in June, the lowest share since December 2007 and a strong improvement from the same time a year ago when this category made up 15.8 percent of total sales. Within this category, REO sales made up 7.2 percent of total home sales, and short sales made up 4.2 percent of total sales in June.  At its peak, the distressed sales share totaled 32.5 percent of all sales in January 2009, with REO sales making...

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