Single-Family Annual Rent Growth Finishes 2021 at a New Record
February 15, 2022
U.S. Single-Family Rents Up 12% Year Over Year in December Annual rent growth hit record highs for all price tiers. Rent growth in Miami was
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Molly Boesel holds the position of principal, economist in the Office of the Chief Economist at CoreLogic. She is responsible for analyzing and forecasting housing and mortgage market trends. She has a depth of expertise in mortgage market analysis, model development and risk analysis in the housing finance industry.
Boesel previously worked at both Fannie Mae and Freddie Mac. While at Fannie Mae she provided Fannie Mae’s official monthly forecast for the economy, housing market, and mortgage market stocks and flows, and provided analyses on trends in the mortgage market, including characteristics of borrowers, homeowners, and mortgage products. She earned her bachelor’s degree in economics from James Madison University and her master’s degree in consumer economics and housing from Cornell University.
U.S. Single-Family Rents Up 12% Year Over Year in December Annual rent growth hit record highs for all price tiers. Rent growth in Miami was
3.6% of home mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure)[1], which was a 2.3-percentage point decrease from November 2020 according to the latest CoreLogic Loan Performance Insights Report.
National home prices increased 18.5% year over year in December 2021, according to the latest CoreLogic Home Price Index (HPI®) Report. The December 2021 HPI gain was up from the December 2020 gain of 8.9% and was the highest 12-month growth in the U.S. index since the series began in 1976. Price appreciation averaged 15% for the full year of 2021, up from the 2020 full year average of 6%. Home price growth in 2021 started off at 10% in the first quarter, steadily increasing and ending the year with an increase of 18% for the fourth quarter. While home price growth is expected to slow during 2022, the CoreLogic HPI Forecast shows it will remain high in the first half of the year and average 9.6% for the full year.
Annual single-family rent growth hit seventh consecutive record.
Fraud risk increased 37% over 2020 levels, putting the CoreLogic fraud risk index near pre-pandemic levels. The major difference between 2019 and today is that the risk is rising instead of declining.
hose in foreclosure)[1], which was a 2.3-percentage point decrease from October 2020 according to the latest CoreLogic Loan Performance Insights Report .