Tag Archives: CoreLogic

Home prices excluding distressed sales, which are normally discounted at 20 percent or more, actually appreciated at a lower rate month-over-month in April (2.3 percent) than home prices including distressed sales appreciated (2.7 percent).

According to CoreLogic, San Jose, California, was the metro area with the second-highest year-over-year home sales growth with 14 percent. San Jose was one of only two of the top 10 markets for highest year-over-year new home sales growth; the other was Portland, Oregon, which was eighth. Atlanta, Georgia, ranked third at 10 percent.

In CoreLogic's May 2015 MarketPulse released earlier this week, Boesel examined the question of whether or not REO share was headed back toward "a more normal level." Its most recently measured rate of 10 percent is far below the share at the worst of the crisis, which was 28 percent. In some metros, the REO share got as high as 70 percent at the worst of the crisis.

The REO cash sales share percentage of 59.8 for February still has not completely recovered from what was termed a seasonal decline from November, when fell from 61.1 percent to 58.4 percent, though it did move back up to 60 percent for January.

Foreclosure inventory also fell substantially year-over-year in March, declining by 25.7 percent down to about 542,000 mortgages (about 1.4 percent of all mortgages nationwide) – marking the 41st consecutive month of year-over-year declines, according to CoreLogic. In March 2014, there were about 729,000 residential homes, or 1.9 percent of mortgages nationwide, that were in some stage of foreclosure.

Reputational risk "remains high with regard to any and all foreclosures," Schwartz said. The crisis gave regulators the ammunition they needed to create loan servicing-specific legislation and policies, which resulted in the straining of the execution of collection and default services for many servicers, whereas those practices had worked well for them prior to the crisis.

Distressed home sales accounted for 13.5 percent of all home sales nationwide in February 2015, which represented a decline of 3 percentage points from February 2014, according to CoreLogic's February 2015 Distressed Sales data released Tuesday. February 2015's distressed sales ...

Foreclosure inventory, which is the number of homes in some state of foreclosure, totaled 553,000 in February (about 1.4 percent of all residential mortgages nationwide), the lowest total since March 2008 and a year-over-year decline of 27.3 percent from February 2014, when there were 761,000 homes in some state of foreclosure (1.9 percent of all residential mortgages).

After a slight dip in December likely due to seasonality, REO sales once again had a 60 percent cash sales share for January, according to CoreLogic's January 2015 cash sales report released Thursday.

When figuring in distressed sales (short sales and REO transactions), home prices jumped by 5.6 percent year-over-year in February, according to CoreLogic's February 2015 Home Price Index released on Tuesday.