Posts Tagged ‘CoreLogic’

Many Groups of Home-buyers Squeezed out by CFPB rules?

September 3rd, 2013 Comments off

 vice-wikicommons-posted-daily-business-news-mhpronews-New CFPB imposed guidelines for mortgages loans aren’t just threatening manufactured housing, they are squeezing conventional housing buyers too. Sam Khater, senior economist at CoreLogic said: “It will tighten things further. The largest constraint is the 43 percent threshold,” said Khater. “It will hit more refinances than purchases because a lot of them use a high debt-to-income ratio. It will also hurt home borrowers in distressed environments.” Yahoo! Homes tells MHProNews that new regs are hurting (1) First time home buyers, (2) those who had a career disrpution in the last 5 years, (3) those in high priced markets, (4) the self-employed and business owners; (5) widowed, divorced and seniors – even those with good credit – may have more trouble than pre-housing-mortgage bubble burst. “Baby boomers entering retirement and young adults will feel a disproportionate impact because of their lower income levels.” One group not harmed are the rich, and all cash buyers, as we reported in this recent stories linked. While no one really wants to see housing harmed, this could prove to be an opportunity for manufactured home communities and retailers, who successfully tap into the inability of these groups to buy traditional houses. ##

(Photo credit, WikiCommons)


Home Prices Rise for 15th Straight Month

July 2nd, 2013 Comments off

May saw the largest increase in the CoreLogic Home Price Index (HPI) since Feb. 2006, rising 12 percent over May 2012, and 2.6 percent higher than April, marking the 15th consecutive month of year-over-year increases. For June 2013, as nationalmortgagenews informs MHProNews, the CoreLogic Pending HPI indicates home prices are expected to increase 13.2 percent year-over-year from June 2012, and 2.9 percent on month-over-month basis. Noting the blazing rise of home prices, especially in the West, Anand Nallathambi, president and CEO of CoreLogic, says, “Across the country, pent-up demand and continued low interest rates are fueling strong demand for a limited inventory of properties. We expect that trend to continue to drive up prices throughout the balance of the summer months.”

(Image credit: etftrends)

Home Prices in Texas Rise above 2007 Levels

June 14th, 2013 Comments off

According to nationalmortggenews a report by the Dallas Federal Reserve Bank says home prices in Texas have recovered to seven percent above the pre-recession highpoint in 2007. One of just ten states to have reached that milestone, Texas is second only to North Dakota in the amount that today’s prices have exceeded the previous high. (As MHProNews has reported numerous times, the oil boom demand for worker housing and supportive services residences in western North Dakota has money flowing nearly like water.) CoreLogic says four of the top six markets for new homes are in Texas—Houston, Dallas, San Antonio and Austin. The Federal Reserve Bank says “in-migration” is drawing people to the state seeking work. Existing home sales have risen 33 percent since the beginning of the housing recovery just over two years ago.

(Image credit: city of Pecos, Texas)

CoreLogic reports Home Price Jump

May 9th, 2013 Comments off

HousingWire tells MHProNews that the most recent CoreLogic home price index spiked 10.5 percent nationally, the 13th consecutive monthly increase in home prices nationally. “For the first time since March 2006, both the overall index and the index that excludes distressed sales are above 10 percent year over year,” said Dr. Mark Fleming, chief economist for CoreLogic. “The pace of appreciation has been accelerating throughout 2012 and so far in 2013 leading into the home buying season,” he adds. Paul Diggle, of Capital Economics, says there is no housing bubble on the horizon. However, “Price gains which are well above twice the pace of income or rental growth are not sustainable in the long-run.” Nevertheless, he expects home prices to continue rising.

(Image credit: etftends)

Home Sales and Indications Continue to Rise

April 11th, 2013 Comments off

CNNMoney tells MHProNews evidence strongly suggests the real estate nightmare is coming to an end, as, according to data provider CoreLogic, home prices over the past year rose in 92 of the 100 largest real estate markets. Sales volume increased in 69 of the top 100 markets and 35 showed double-digit gains. Mark Fleming, CoreLogic’s chief economist, says the market is still healing, and these next two years will be transition years. The median time for a home on the market has fallen in the last year from 99 days to 71 days, and in some markets bidding wars have returned. Real estate broker Redfin says 73 percent of the offers their clients made were up against rival bidders in Jan. and Feb. this year, versus 56 percent 1.5 years ago. Some markets experiencing a surge in sales are investor driven, and may fall back.

(Image credit: HousingWire)

Housing Numbers Up for 2012

January 15th, 2013 Comments off

According to HousingWire, CoreLogic offers the following housing scorecard for 2012:

  • 4.2 million home sales, up from 3.9 million in 2011, a six percent increase;
  • first year-over-year sales increase since 2005;
  • REO (real estate-owned) house sales fell 20% to 600,000;
  • new home sales rose three percent to 300,000;
  • short sales rose 23% to 370,000 units:
  • the serious delinquency rate dropped 7.4% to 6.9%;
  • serious delinquencies fell by one million loans since the downturn.

MHProNews has learned CoreLogic predicts the housing market will continue to improve despite the impact of the QM or other regulations. “Rising home prices will continue to slowly release pent-up supply as under-equitied borrowers are unlocked and opportunistic sellers begin to provide relief to tight inventories,” says the data research firm.

(Image credit: etftends)

Foreclosures are Leaving the Scene

December 4th, 2012 Comments off

The World Property Channel reports according to CoreLogic’s latest report, the foreclosure rate fell by 17 percent Oct. 2011 to Oct. 2012, from 70,000 down to 58,000; the Sept. drop was from 77,000, a 25 percent fall. By comparison, completed foreclosures averaged 21,000 from 2000-2006. 1.3 million homes, 3.2 percent of all homes with mortgages are in some stage of foreclosure as of Oct. 2012, a decrease from the 1.5 million or 3.6 percent from Oct. 2011. MHProNews has leaned it fell 1.3 percent from Sept. to Oct. 2012. “As a result of completed foreclosures and alternative disposition methods, the foreclosure inventory has declined by 9 percent year-to-date. This is good news for housing markets as we look forward to 2013,” said Mark Fleming, chief economist for CoreLogic.

(Image credit: condometropolis)

Shadow Inventory Declines

October 10th, 2012 Comments off

According to nationalmortgagenews ,CoreLogic says residential shadow inventory as of July 2012 dropped to 2.3 million units from 2.6 million units a year ago, a decline of 10.2 percent. Of the 2.3 million, one million are seriously delinquent, 900,000 are going thru foreclosure, and 345,000 are already real estate owned (REO). “This is yet another hopeful sign that the housing market is slowly healing,” said Anand Nallathambi, president and CEO of CoreLogic. As MHProNews has learned, Florida, California, Illinois, New York and New Jersey account for 45% of all distressed properties in the country.

(Image credit: FloridaForeclosuresDefenseLawyer)

August Home Prices Leap above Last Year

October 3rd, 2012 Comments off

HousingWire reports CoreLogic says in its Pending Home Price Index home prices in August rose 4.6 percent over a year ago, the biggest increase year-over-year since July 2006, but only 0.3 percent over July, 2012. When distressed sales are excluded, August home prices rose 4.9 percent over a year ago. Chief economist for CoreLogic Mark Fleming says, “The housing markets gains are increasingly geographically diverse with only six states continuing to show declining prices.” Single-family home prices spiked 18.2 percent in Arizona from a year ago August, followed by Idaho with a 10.4 percent increase and Nevada which rose nine percent year-over-year. As MHProNews knows, Arizona and Nevada have both had very high foreclosure rates. The five states with the highest price depreciation are Rhode Island, Illinois, New Jersey, Alabama and Connecticut. Says Anand Nallathambi, president and CEO of CoreLogic, “Improving pricing trends over the past few months and our forecast for continued gains in September bode well for a progressive rebound in the residential housing market.”

Photo credit: Joshua Scott/CNNMoney)

Home Prices on the Rise

September 4th, 2012 Comments off

nationalmortgagenews tells MHProNews the CoreLogic house price index (HPI) rose 1.3 percent in July, marking the fifth consecutive monthly increase, and following the same increase in June over May 2012. The HPI is up 3.8 percent over July 2011, which is the largest increase year-over-year since Aug. 2006. CoreLogic’s chief economist Mark Fleming expects the increase in Aug. to also be 1.3 percent. Excluding short sales and foreclosures, sales are up in July month-over-month by 1.7 percent. Even with the seasonal slow down expected in home buying in the latter part of the year, “we expect a positive gain in price levels for the full year.”

(Image credit: etftrends)