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Blog Entries by Andrew LePage

Homebuyers’ “Typical Mortgage Payment” Up 10 Percent Year Over Year

Forecasts Suggest the Payment Could Rise 11 Percent Over the Next Year

Andrew LePage    |    Housing Trends

Figure 1 Natl Homebuyers

While home prices have risen about 6 percent over the past year, the mortgage payments that recent homebuyers have committed to have risen closer to 10 percent because of the increase in mortgage rates over the past year.

One way to measure the impact of inflation, mortgage rates and home prices on affordability over time is to use something we call the “typical mortgage...

Homebuyers’ Mortgage Payments Rising Faster Than Prices

“Typical Mortgage Payment” Up Nearly 14 Percent Year Over Year

Andrew LePage    |    Housing Trends

Low mortgage interest rates helped soften the blow of rising prices for homebuyers over the past six years. But with prices still rising and mortgage rates running about half a percentage point higher than last summer the mortgage payments that many homebuyers face have increased at roughly double the rate of home prices over the past year.

One way to measure the impact of inflation,...

How Rising Interest Rates Can Decrease Affordability More Than Home Price Increases

CoreLogic ‘Typical Mortgage Payment' Index Measures Relative Affordability Over Time

Andrew LePage    |    Housing Trends

National Homebuyers Typical Mortgage Payments

Rising home prices and relatively stagnant wage growth have combined to create affordability headwinds for many Americans. Until recently, however, historically low mortgage interest rates have been one of the few tailwinds helping the average homebuyer. But what will happen now that rates are rising again?

One way to measure the impact of inflation, interest rates and home prices on...

California Million-Dollar Home Sales Climb to a Q1 Peak as Stocks Soar

Luxury Sales Hit Highs While Sub-$500,000 Deals Dip to a 9-Year Low

Andrew LePage    |    Housing Trends

CA $2M + Home Sales Hits Q1 Record

As many Californians struggled to gain a foothold in homeownership early this year, a surging stock market and other forces lifted sales of $1 million-plus homes to the highest level ever for a first quarter.  

The number of California homes that sold for $1 million or more totaled 10,562 during the January-through-March period, up 11.7 percent year over year and the highest on...

SoCal Caps 2016 with Steady Home Price Growth and Modest Sales Gain

Some Areas Appear Modestly “Overvalued” Relative to Incomes

Andrew LePage    |    Housing Trends

SoCal Counties YOY Change in Home Prices

Southern California’s housing market closed 2016 with the highest median sale price in nine years, continued steady price growth, slightly higher full-year sales than in 2015, record luxury sales, and lower levels of investor purchases and distressed sales. But inventory remained tight, exacerbating the affordability crunch, and there were stronger signs of a disconnect between home...