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CoreLogic

CoreLogic (NYSE: CLGX) is a leading global property information, big data and technology solutions provider. The company’s combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, and the public sector. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk.

May 18, 2022 / Real Estate

Annual Rent Growth Hits One-Year Record High in March, CoreLogic Reports

From CoreLogic
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its latest Single-Family Rent Index (SFRI), which analyzes single-family rent price changes nationally and across major metropolitan areas. U.S. single-family rent price growth continued at a record pace in March, up 13.6% from one year earlier. Slim inventory continues to squeeze renters, as do robust home price gains – both familiar culprits in declining affordability.
May 11, 2022 / Real Estate

Loan Performance Insights

From CoreLogic
The CoreLogic Loan Performance Insights report features an interactive view of our mortgage performance analysis through February 2022. Measuring early-stage delinquency rates is important for analyzing the health of the mortgage market. To more comprehensively monitor mortgage performance, CoreLogic examines all stages of delinquency as well as transition rates that indicate the percent of mortgages moving from one stage of delinquency to the next.
May 9, 2022 / Real Estate

Price-to-Rent Ratio: A Signal of Overvaluation

From CoreLogic
Home prices rose a whopping 20% over the past year and rents on single-family homes were up 13%, according to the CoreLogic national Home Price Index and Single-Family Rent Index. With prices up more than rent, is it a sign that homes are overvalued? Price growth that outstrips rent gains over an extended period could be a sign that homes are overvalued if capitalization rates, otherwise called cap rates, had remained unchanged. A cap rate is used by real estate professionals to convert net operating income on an investment property into a market value.
May 5, 2022 / Real Estate

What Do You Know About PACE, A Once Fast-Growing Home Improvement Loan?

From CoreLogic
If you are a homeowner living in California, Florida or parts of Missouri and have not already had installed solar panels or new roofing with a PACE loan, there is still a good chance that you know a friend or neighbor who has, or you’ve been pitched by private contractors selling PACE. PACE is an abbreviation for Property Assessed Clean Energy. As the name indicates, PACE provides financing for green and renewable energy home improvements, although it is not limited to such. Retrofitting properties with energy upgrades is costly, and PACE provides incentives such as 100% long-term financing.
May 4, 2022 / Business

U.S. Home Prices Surged in March

From CoreLogic
National home prices increased 20.9% year over year in March 2022, according to the latest CoreLogic Home Price Index (HPI®) Report . The March 2022 HPI gain was up from the March 2021 gain of 11.1% and was the highest 12-month growth in the U.S. index since the series began in 1976. While home price growth is expected to slow over the next 12 months, the CoreLogic HPI Forecast shows that the year-over-year change in the HPI will remain in the double digits for the rest of this year.
April 20, 2022 / Real Estate

Rent Growth Extends Record-Breaking Streak in February, CoreLogic Reports

From CoreLogic
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its latest Single-Family Rent Index (SFRI), which analyzes single-family rent price changes nationally and across major metropolitan areas. U.S. rent prices continued their double-digit gains in February, rising 13.1% from one year earlier to hit another new record as the highest in the history of the index. Warmer areas of the country again posted the largest price hikes, with rents in Miami up 39.5% from February 2021.
April 14, 2022 / Real Estate

U.S. Delinquencies Remain Low in January on Home Equity Accumulation and Job Gains

From CoreLogic
The nation’s overall delinquency rate was 3.3% in January. All U.S. states and metro areas posted year-over-year decreases in delinquencies.In January 2022, 3.3% of home mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure), which was a 2.3-percentage point decrease from January 2021 according to the latest CoreLogic Loan Performance Insights Report . This is the lowest recorded overall delinquency rate in the U.S. since at least January 1999.
April 7, 2022 / Real Estate

Rapid Rent Growth Likely to Keep Inflation Elevated

From CoreLogic
Recent price indexes show that inflation is at a 40-year high. Supply chain disruptions have led to a spike in prices for various goods, which has added to the cost of construction and delayed home completions. Housing is a big part of every family’s monthly spending, so when housing costs go up, it also adds to inflation measurement. Rent is the main way that housing costs enter U.S. inflation metrics. For owner-occupied homes, the government estimates a rental equivalent to assign value to the flow of housing services.
April 1, 2022 / Real Estate

Young Homebuyer Share Declines After Peaking in 2020

From CoreLogic
There is a notable difference between young homebuyers, those aged 30 and below, and older millennial homebuyers, ages 31 to 40. Generally, older millennials have advanced further in their careers, have a more stable income and are already homeowners who are considering a move-up purchase. In contrast, younger people have more financial challenges when competing to buy homes since they are just beginning their careers; have less or no credit history; limited or no savings and generally lower levels of income.
March 30, 2022 / Business

Vacation Locations Saw Large Home Equity Gains in 2021

From CoreLogic
The Mountain-West region is the hottest housing market in the country. Of the 20 cities covered in the S&P CoreLogic Case-Shiller Home Price Index, Phoenix had the fastest year-over-year appreciation in December 2021, growing 32.5% annually. Another popular market was Denver, where prices increased 109% compared to the previous peak in August 2006. Right behind Denver was Boise, Idaho. According to the CoreLogic Home Price Insights Report, Boise real estate appreciated 22% in 2021, and the average homeowner equity increased by $64,000 from December 2020 to December 2021.
March 22, 2022 / Real Estate

Monthly Mortgage Payments on Recent Home Purchases Are Significantly More Expensive

From CoreLogic
In response to the outbreak of COVID-19 and the resulting economic shocks experienced by the U.S. and global economies, the Federal Reserve slashed its target interest rate to nearly zero and kept it between 0% and 0.25% from March 15, 2020, until March 16, 2022, when the Fed announced it will raise the target interest rate by 25 basis points to 0.25-0.5%. For existing homeowners, the resulting low interest rates meant opportunities for billions of dollars of savings in mortgage interest, prompting millions of homeowners to refinance their existing mortgage for a lower rate.
March 16, 2022 / Real Estate

Single-Family Annual Rent Growth Off to a Fast Start in 2022

From CoreLogic
U.S. single-family rent growth increased 12.6% in January 2022, the fastest year-over-year increase in over 16 years, according to the CoreLogic Single-Family Rent Index (SFRI). January marked the 10th consecutive month of record-level rent growth. The index measures rent changes among single-family rental homes, including condominiums, using a repeat-rent analysis to measure the same rental properties over time. Annual rent growth in January 2022 was more than triple the gain recorded in January 2021 and more than quadruple the increase from January 2020.
March 9, 2022 / Real Estate

U.S. Mortgage Delinquency Rate At A Record Low in December

From CoreLogic
The nation’s overall delinquency rate was 3.4% in December. All stages of delinquencies showed year-over-year decreases in December. In December 2021, 3.4% of home mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure) , which was a 2.4-percentage point decrease from December 2020 according to the latest CoreLogic Loan Performance Insights Report. This is the lowest recorded overall delinquency rate in the U.S. since at least January 1999.
March 7, 2022 / Real Estate

2021: A Banner Year for Jumbo Loan Securitization

From CoreLogic
An unexpected side effect of the pandemic has been the extraordinary rise in home prices during 2021. That has increased the need for jumbo loans — mortgage loans that exceed the loan limits of Fannie Mae and Freddie Mac. When mortgage rates dropped at the onset of the pandemic in 2020, the effects were felt immediately in the market for conforming loans — mortgages that can be packaged into federally backed mortgage securities. Mortgage rates on jumbo loans were slower to come down and reached an all-time low during 2021.
March 3, 2022 / Real Estate

Home Price Increases Reach New High in the New Year

From CoreLogic
National home prices increased 19.1% year over year in January 2022, according to the latest CoreLogic Home Price Index (HPI®) Report. The January 2022 HPI gain was up from the January 2021 gain of 9.4% and was the highest 12-month growth in the U.S. index since the series began in 1976. While home price growth is expected to slow over the next 12 months, the CoreLogic HPI Forecast shows that the year-over-year change in the HPI will remain in the double digits for at least the first seven months of 2022.
March 2, 2022 / Real Estate

U.S. Home Price Insights

From CoreLogic
The CoreLogic Home Price Insights report features an interactive view of our Home Price Index product with analysis through January 2022 and forecasts through January 2023. CoreLogic HPI™ is designed to provide an early indication of home price trends. The indexes are fully revised with each release and employ techniques to signal turning points sooner. CoreLogic HPI Forecasts™ (with a 30-year forecast horizon), project CoreLogic HPI levels for two tiers—Single-Family Combined (both Attached and Detached) and Single-Family Combined excluding distressed sales.
February 22, 2022 / Real Estate

Serious Delinquency Rate for All Mortgage Loan Types Down from Last Year

From CoreLogic
The nation’s overall mortgage delinquency rates have improved significantly over the last year, according to the latest CoreLogic Loan Performance Insights Report. Data shows the serious delinquency rate for November 2021 declined 1.9 percentage points from 12 months prior to 2%. When compared to the peak serious delinquency rate for mortgages in August 2020, the rate last November was down 2.3 percentage points. Declines in local unemployment rates, a rapid rise in home prices and demand for housing have helped reduce the overall delinquency rate. Loan product mixes also contribute to the national delinquency rate, and this blog explores mortgage default trends by loan type.
February 16, 2022 / Real Estate

Single-Family Annual Rent Growth Finishes 2021 at a New Record

From CoreLogic
U.S. single-family rent growth increased 12% in December 2021, the fastest year-over-year increase in over 16 years, according to the CoreLogic Single-Family Rent Index (SFRI). The index measures rent changes among single-family rental homes, including condominiums, using a repeat-rent analysis to measure the same rental properties over time. The December 2021 increase was more than three times the December 2020 increase, and while the index growth slowed in the summer of 2020, rent growth returned to its pre-pandemic rate by October 2020.
February 9, 2022 / Real Estate

National Delinquency Rates Dropped Below March 2020 Level in November

From CoreLogic
The nation’s overall delinquency rate was 3.6% in November. All stages of delinquencies showed year-over-year decreases in November.In November 2021, 3.6% of home mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure) , which was a 2.3-percentage point decrease from November 2020 according to the latest CoreLogic Loan Performance Insights Report. November marked the first time since the pandemic began that the overall delinquency rate fell below the March 2020 level.
February 9, 2022 / Real Estate

Loan Performance Insights

From CoreLogic
The CoreLogic Loan Performance Insights report features an interactive view of our mortgage performance analysis through November 2021. Measuring early-stage delinquency rates is important for analyzing the health of the mortgage market. To more comprehensively monitor mortgage performance, CoreLogic examines all stages of delinquency as well as transition rates that indicate the percent of mortgages moving from one stage of delinquency to the next.