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CoreLogic Econ


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...

Cash Sales Made up 34 Percent of Total Home Sales in May

Cash Sales Share Is the Lowest Since May 2010

Molly Boesel    |    Housing Trends

Cash sales made up 34.4 percent of total home sales in May 2014, the lowest share since May 2010, and down from 37.4 percent from the same month a year ago. While the cash sales share also fell from the 36.9 percent reported in April 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 on a year-over-year basis each month since January 2013. Prior to the housing crisis, the cash sales share...

June 2014 Home Prices Increased 7.5 Percent Year Over Year

Michigan on Top With Highest Year-Over-Year Price Growth

Molly Boesel    |    Housing Trends

YoY HPI Growth for 25 Highest Appreciating States

Today, CoreLogic reported  that June 2014 national home prices increased by 7.5 percent year over year, and by 1 percent month over month. This marks the 28th consecutive month of year-over-year increases in the CoreLogic Home Price Index (HPI). Excluding distressed sales, home prices increased 6.9 percent from June 2013 and increased 0.9 percent from the prior month. Including...

Foreclosure Inventory Down 35 Percent Nationally From a Year Ago

Among The Top 3 Foreclosure States, Florida Is Improving the Most

Sam Khater    |    Housing Trends

Today CoreLogic reported that the national foreclosure inventory fell by 35 percent in June 2014 to approximately 648,000 homes, or 1.7 percent of all homes with a mortgage, from 998,000, or 2.5 percent, in June 2013. This marks 32 months of continuous year-over-year declines in the inventory of foreclosed homes, including 17 straight months of declines greater than 20 percent, as shown in Figure 1. Additionally, in June the 12-month sum of completed foreclosures continues to decline,...

Housing-Related Spending Made Up 17.5 Percent of GDP in the Second Quarter of 2014

Second-Quarter GDP Bounces Back From First Quarter Drop

Molly Boesel    |    Economic Trends, Housing Trends

Housing-Related GDP Growth Lagged Overall GDP Growth

The U.S. Bureau of Economic Analysis released its advance estimate of Q2 2014 gross domestic product (GDP) today and the numbers show a large bounceback in overall quarterly GDP growth and upward revisions in Q1 2014 overall GDP growth.  The second-quarter 2014 year-over-year growth rate for overall GDP was 2.4 percent, and the housing-related GDP growth was 1.4 percent. The second-quarter overall GDP growth rate was 4.0 percent, up from -2.1 percent from the first quarter, and...

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