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CoreLogic Econ


Another Look at U.S. Housing Market Conditions

Analysis Suggests No Bubble in Sight

Mark Liu    |    Housing Trends

Housing markets in the U.S. are showing significant recovery from the most recent market collapse over half a decade to ago, with home prices rising rapidly in many local markets. According to the October 2014 CoreLogic HPI™, in 2013 alone, national home prices, including distressed sales, rose by more than 11 percent. After a 20+ month streak of double-digit year-over-year house price appreciation, house price growth has begun to moderate. Still, by August 2014, national home prices...

New Mortgage Servicing Rules Enforced by CFPB

The New Servicing Environment

Stuart Quinn    |    Housing Policy, Housing Trends

There have been a litany of settlements and regulatory changes over the previous years aimed at mortgage servicers yet questions remain: Is servicing compensation too much or too little? Do second liens continue to pose significant servicing issues? Have we truly established national servicing standards? Are nonbank servicers riskier actors for consumers and counterparties?

Serious advances have been made by mortgage servicers who play a vital role in the effectiveness of both...

Goldilocks and The Three Credit Bears

Is Credit Too Tight, Too Loose or Just Right?

Mark Fleming    |    Housing Trends, Mortgage Trends

One of the most pressing issues in housing finance today is the availability of credit. The lack of access to credit has been cited as a reason for the slower-than-hoped-for growth in home sales. The often cited Federal Reserve Loan Officer Survey tells us whether lenders are tightening or loosening credit, but tells us much less about the overall level of availability of credit. Furthermore, terms like tight credit or loose credit imply a normative goal of the right amount of credit. In...

Channeling Deep Blue Versus Garry Kasparov in Home Valuations

It’s time to standardize how real estate appraisers make their adjustments

Michael G. Bradley    |    Valuation

It might be time to reengineer the process appraisers use to make adjustments to comparable homes. The current approach does not appear to be defensible.

Completion of a uniform residential appraisal report by a licensed or certified appraiser is the dominant process used to determine the value of residential real estate in the United States. Fed Economist Leonard Nakamura reported in his 2010 Business Review article that roughly $4 billion was spent on appraisals in the U.S. in 2005...

Cash Sales Made Up 33 Percent of Total Home Sales in July 2014

Downward Trend in Cash Sales Share Continues

Molly Boesel    |    Housing Trends

Cash sales made up 32.9 percent of total home sales in July 2014, the lowest share since August 2008, and down from 35.9 percent in July 2013. Month over month, the cash sales share was mostly flat, falling only one tenth of a percentage point from June 2014, however, cash sales share comparisons should be made on a year-over-year basis due to the seasonal nature of the housing market. The year-over-year share has fallen each month since January 2013. Prior to the housing crisis, the cash...

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