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Blog Entries by Molly Boesel

Distressed Sales Accounted for 11 Percent of Homes Sold Nationally in April 2015

Only Two States are Near ‘Normal’ Distressed Sales Share

Molly Boesel    |    Mortgage Performance

Distressed sales—real estate-owned (REO) and short sales—accounted for 11.1 percent of total home sales nationally in April 2015, down 3 percentage points from April 2014 and a 1.5 percentage point decrease from March 2015. Distressed sales shares typically decrease month over month in April due to seasonal factors, and this distressed sales share was the lowest for the month of...

May 2015 National Home Prices Increased 6.3 Percent Year Over Year

Low-End Home Price Growth Double that of High-End

Molly Boesel    |    Property Valuation

CoreLogic reported today that national home prices in May 2015 increased by 6.3 percent year over year and increased by 1.7 percent month over month. This marks 39 months of consecutive year-over-year increases in the CoreLogic Home Price Index (HPI®). Excluding distressed sales, home prices increased by 6.3 percent year over year from May 2014 and were up by 1.4 percent from April...

Housing Market Strength in Oil Metros

Equity Position of Texas Oil Metros is Strong

Molly Boesel    |    Mortgage Performance

Between the fall of 2014 and this spring, oil prices fell 42 percent1 and housing market watchers have been waiting to see what will happen in parts of the U.S. with heavy oil-related employment. The first potential piece of this data came out in April when the state-level employment report showed a month-over-month decrease in employment in Texas and Oklahoma for March...

Negative Equity Decreased by $12 Billion from Q4 2014 to Q1 2015

More Than 1.2 Million Properties Regained Positive Equity Over the Past Year

Molly Boesel    |    Property Valuation

According to the CoreLogic Equity Report, released today, the nationwide negative equity share decreased from 10.8 percent in Q4 2014 to 10.2 percent in Q1 2015, and the number of underwater borrowers (those in negative equity) decreased from 5.4 million to 5.1 million. Negative equity totaled $337.4 billion in Q1 2015,...

Cash Sales Made Up 35 Percent of All Home Sales in March 2015

Florida Has the Highest Cash Sales Share of Any State

Molly Boesel    |    Housing Trends

Cash sales made up 34.6 percent of total home sales in March 2015, down from 39 percent in March 2014. The year-over-year share has fallen each month since January 2013, making March 2015 the 27th consecutive month of declines. Month over month, the cash sales share fell by 2.8 percentage points. Due to seasonality in the housing market, cash sales share comparisons should be made on a...

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