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CoreLogic Econ


Distressed Sales Accounted for Just 11 Percent of Total Home Sales in July 2014

Distressed Sales Share is 21 Percentage Points Below the Peak Value in January 2009

Molly Boesel    |    Housing Trends

Distressed sales (REO and short sales) accounted for 11.1 percent of total home sales in July 2014, the lowest share since December 2007 and a strong improvement from the same time a year ago when this category made up 15.5 percent of total sales. Within this category, REO sales made up 7.1 percent of total home sales, and short sales made up 4 percent of total sales in July. At its peak, the distressed sales share totaled 32.5 percent of all sales in January 2009, with REO sales making up...

The Long-Term Rise of Condo Sales

Naples, Houston and Denver Are The Three Fastest Growing Condo Markets in the US

Sam Khater    |    Housing Trends

In July we analyzed the normalization of existing condo prices relative to the single-family housing market, which we concluded was a prelude to recovery in prices for the new condo market. But to truly understand what’s happening with condos now and in months or years to come, we have to look at part two of the condo comeback: sales, on their own and as a function of all home sales.


Is 2014 the Year of the Fresh Start?

The U.S. Housing Recovery Continues To Normalize Toward Long-Run Growth

Mark Fleming    |    Housing Trends

Now that school has started and the smell of autumn is in the morning air, it’s time for us to take stock of 2014 and consider what might happen through the end of this year and into 2015. As mortgage rates have stabilized, averaging 4.25 percent for a 30 year fixed-rate loan through the first eight months of the year according to Freddie Mac, there has been a continued decline in refinance activity. According to the...

Dollar Volume of Negative Equity Falls $38 Billion in Q2 2014

All States Show Declining Shares of Negative Equity

Molly Boesel    |    Valuation

According to the latest CoreLogic Equity Report, released today, the negative equity share nationwide fell from 12.7 percent in Q1 2014 to 10.7 percent in Q2 2014, and the number of underwater borrowers decreased from 6.3 million to 5.3 million. The total dollar amount of negative equity was down $38 billion from Q1 2014, falling to $345 billion in Q2 2014.

Quarter over quarter, all states exhibited a decrease in negative equity...

Mortgage Servicing Transfers and Federal Consumer Financial Laws

New CFPB Guidance for the Reasonable Design of Mortgage Transfers

Stuart Quinn    |    Housing Policy, Mortgage Trends

The volume of mortgage servicing rights (MSR) transfers over the previous year has resulted in growing scrutiny from regulatory bodies and industry fears of uncertainty over new regulatory guidelines. This lack of clarity has been problematic for some non-depositories; specialty servicers that have used bulk MSR transfers and corporate acquisitions as a primary means of executing their growth strategies. As a group, the specialty servicers have grown in prominence over the past several...

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