Source: CoreLogic / #Housing #Market
IRVINE, CA - CoreLogic, a leading provider of information, analytics and business services, released its November MarketPulse report. The monthly publication provides insight into the health of the U.S. economy with emphasis on housing and mortgage metrics. CoreLogic Chief Economist Mark Fleming and Principal Economist Sam Khater, along with colleagues from the CoreLogic Office of the Chief Economist, authored the articles.
Key findings in the November MarketPulse report include:
While the housing market is now a significant contributing factor to economic growth, it will take much more time before the housing market sees a full recovery. Short- to medium-term factors driving this recovery are fueled by an investor-based demand for rental properties, combined with rising home prices and a decline in the number of under-equitied households. A full housing recovery will be driven by a healthier economy, fundamental gains in income growth and consumption, and an ongoing increase in home prices.
The single-family rental market remained very active this past summer, with increases in demand, tightening inventory and rising rents.
Nationally, rental leasing volumes were up sequentially every month during the last two years. Over this same time period, an average of 42,000 rentals was added to the stock of rental homes each month. This is more than twice the average flow that the U.S. was experiencing prior to the housing recession.
For a full copy of the November CoreLogic MarketPulse report, including a complete set of data and charts is available at the CoreLogic website.
CoreLogic is a leading residential property information, analytics and services provider in the United States and Australia.