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Archana Pradhan holds the position of principal, economist as part of the Office of the Chief Economist at CoreLogic. With years of experience in housing economics, applied econometrics and spatial analysis, she is responsible for analyzing housing and mortgage markets.
Prior to joining CoreLogic, she was program manager and senior research analyst at the National Community Reinvestment Coalition. She earned her doctorate in natural resource economics from West Virginia University.
These 20 metro areas showed the biggest monthly income gaps between in-migrating homebuyers and locals in 2023.
Many potential U.S. homebuyers have relocated to less-expensive areas near their former residences so far in 2023.
People of Hispanic origin are projected to comprise an exceptionally large proportion of first-time homebuyers over the next 15 to 20 years.
Mortgage buydown activity increased late last year as interest rates rose but has begun to slow in 2023.
As mortgage rates continue to tick up, HELOC activity is slowing.
The share of U.S. homebuyers who are taking out ARM loans has risen significantly since the height of the pandemic.