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CoreLogic: March MarketPulse Report Shows High-End Home Sales Grow Strong, Lower-End Price Segment Contracting
In this month's issue, CoreLogic Chief Economist Mark Fleming, Ph.D., examines the risk of another housing bubble in light of large price gains in many markets in 2013. Also, Deputy Chief Economist Sam Khater analyzes residential real estate's "one percent" and the relationship between high-end home sales and the health of the financial markets.
This month's edition also features commentary by CoreLogic President and CEO Anand Nallathambi who observes the housing market duality that 2014 may present. While it will be a historic reset year with the shift back to a traditional purchase-driven market underway, Nallathambi points out that this year is also widely expected to be the trough year for mortgage originations, driven by lackluster economic growth, as well as a number of other factors.
Additional key findings in the March MarketPulse report include:
- Despite much speculation about another housing bubble, home prices are expected to remain slightly undervalued relative to income levels through the end of 2015.
- In housing's freshman year of healing, a disproportionate recovery emerged in cheaper markets which showed higher new home sales shares than expensive distressed markets.
- Detroit is exhibiting signs of new life, with more than half of ZIP codes in the metro area registering year-over-year growth rates of more than 15 percent in 2013.
MarketPulse article content consists of a selection of recently published research, analytics and commentary. To view additional content please visit the CoreLogic Insights Blog: http://www.corelogic.com/blog.
For a full copy of the March CoreLogic MarketPulse report, including a complete set of data and charts, visit http://www.corelogic.com/research/the-market-pulse/marketpulse_2014-march.pdf.
CoreLogic (NYSE: CLGX) is an Irvine, CA-based property information, analytics and services provider in the United States and Australia. The company's combined data from public, contributory and proprietary sources includes over 3.3 billion records spanning more than 40 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, transportation and government. 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. Headquartered in Irvine, Calif., CoreLogic operates in seven countries. For more information, please visit www.corelogic.com.
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