Source: CoreLogic / #Housing #Economy
SANTA ANA, CA - CoreLogic, a leading provider of information, analytics and business services, today released its September MarketPulse report. The monthly economic publication provides insight into the current and future health of the U.S. economic climate with emphasis on housing and mortgage metrics. CoreLogic Chief Economist Mark Fleming and Deputy Chief Economist Sam Khater, along with colleagues from the CoreLogic mortgage analytics and economics team, authored the articles. Additionally, this month's edition includes an opening letter to the industry by Anand Nallathambi, CoreLogic president and CEO, featuring his personal observations on the road to a sustainable housing recovery.
Key findings in the September MarketPulse Report include:
While robust economic growth remains elusive, the housing market is accelerating in all areas. Sales are up, mortgage performance is improving and prices are rapidly improving.
Land is a critical cyclical component that drives home values. Currently land share of total home value is historically low, but if land sales begin to increase rapidly, home prices could rise more quickly than traditional income and rent-to-price fundamental indicators warrant, and would contribute to overall economic growth.
The newly introduced CoreLogic Real Estate Strength Index (RESi™), is a monthly index that compares and ranks the quality, sustainability and health of metropolitan markets by incorporating economic, real estate and mortgage factors.
According to RESi, the majority of the most-improved U.S. housing markets are in western markets, which peaked and bottomed earlier than many eastern and southern markets. Boise, Idaho holds the top spot for most improved, followed by Phoenix, Ariz. and West Palm Beach, Fla.
A complete copy of the September CoreLogic MarketPulse report is available online.
CoreLogic is a leading provider of consumer, financial and property information, analytics and services to business and government. The Company combines public, contributory and proprietary data to develop predictive decision analytics and provide business services that bring dynamic insight and transparency to the markets it serves.