Home prices nationwide, including distressed sales, increased by 13.5% in August 2022 on an annual basis.
For the month of July, 3% of all mortgages in the U.S. were in some stage of delinquency, representing a 1.2 percentage point decrease compared to 4.2% in July 2021.
The surge in mortgage rates has brought the housing market to an impasse. Many buyers moved to the sidelines as the cost of homeownership became prohibitively high, while sellers were unwilling to give up locked-in record-low interest rates and expectations of peak sales prices.
Attached single-family rental price growth slightly outpaced detached price growth in July, a respective 12.6% and 11.9%, moving away from pandemic-era preferences for detached rentals.
In June 2022, 2.9% of mortgages were delinquent by at least 30 days or more including those in foreclosure. This represents a 1.5 percentage point decrease in the overall delinquency rate compared with June 2021.
After large increases in mortgage fraud risk for much of 2021, our 2022 Annual Mortgage Fraud Report shows a 7.5% year-over-year decrease in fraud risk at the end of the second quarter of 2022.
CoreLogic analysis shows U.S. homeowners with mortgages (roughly 63% of all properties*) have seen their equity increase by a total of over $3.6 trillion since the second quarter of 2021, a gain of 27.8% year over year.
As rising global temperatures continue to contribute to increasingly hazardous wildfire seasons, it is more important than ever for homeowners, insurers, and governments to understand the risk these hazards pose to their communities.
Home prices nationwide, including distressed sales, increased year over year by 15.8% in July 2022 compared with July 2021
CoreLogic tracks construction cost for commercial, residential and agricultural construction of all types of goods (labor and materials) throughout the United States and Canada.
Housing market activity slowed considerably over the summer, leading to widespread deceleration in home price growth and rising concerns of a real estate downturn.