Tag Archives: CoreLogic

One of the pet reasons for explaining the lack of demand for houses among millennials is the presence of ever-escalating student loan debts. The thinking goes that college graduates are so mired in debt that they either cannot afford to buy or are too afraid to run up more debt. However, Mark Fleming, chief economist at CoreLogic, isn't buying it.

According to CoreLogic senior economist Molly Boesel, cash sales accounted for 36.8 percent of total home sales in April, down from 38.5 percent in March and 40.1 percent in April 2014. The percentage of cash sales as a share of total transactions averaged approximately 25 percent prior to the housing crisis, Boesel said. It peaked in January 2011 at 46.2 percent.

In the midst of hurricane season, CoreLogic released its storm surge analysis for the year, counting more than 6.5 million homes at risk of hurricane damage and a total of $1.5 trillion in total reconstruction costs for these homes. Importantly, CoreLogic noted a large portion of homes susceptible to flood damage are not located within Federal Emergency Management Agency (FEMA) flood zones and therefore are not required to carry flood insurance.

Property analytics firm CoreLogic reported an 8.8 percent year-over-year increase in its May Home Price Index (HPI), marking 27 straight months of annual improvement. Taking out distressed sales, the HPI was up 8.1 percent year-on-year. May's figure represents another slowdown in the annual rate of home price gains, which are now down almost 3 percentage points compared to only a few months ago.

CoreLogic's CFO will expand his leadership role in the company by also taking on the duties of COO, the company announced.

For March, CoreLogic reports cash sales accounted for 38.7 percent of total home sales, down from 40.2 percent the prior month and 41 percent a year before. Due to the seasonal nature of the housing market, CoreLogic senior economist Molly Boesel said the year-over-year comparison provides a better picture of the decline in cash sales.

An analysis by CoreLogic found that roughly 6.3 million properties, or 12.7 percent of all residential properties with a mortgage, had negative equity as of Q1 2014. The first quarter of 2014 saw a decline from the fourth quarter of 2013, when 6.6 million homes had negative equity, or 13.4 percent. Underwater homes have a national aggregate value of negative equity of $383.7 billion at the end of the quarter.

CoreLogic reported continued gains in its latest Home Price Index (HPI), though the latest growth was the lowest in the last 14 months. Including distressed sales, the company recorded a 10.5 percent year-over-year increase in its index, marking 26 consecutive months of yearly gains. Nationally, prices are expected to rise by 6.3 percent by next April, further slowing to what analysts say should be a more sustainable pace.

CoreLogic released Tuesday its own quarterly Case-Shiller Indexes, assembled using the company’s proprietary data supplemented with statistics from the Federal Housing Finance Agency (FHFA). While prices nationwide were up an estimated 11.3 percent in Q4, seven cities managed to shoot up into the 20 percent range year-over-year, with Las Vegas leading at 25.6 percent growth.

Home prices continued to rise in March, but at a markedly slower pace compared to February, CoreLogic reported in its latest Home Price Index. According to the company, prices were up 11.1 percent nationally year-over-year in March, with growth expected to slow to an annual rate of 6.7 percent by the same time in 2015. Both figures include distressed sales.