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CoreLogic® Releases June MarketPulse Report
—Report Highlights the Positive Force of Negative Equity and the Liberal Side of Collateral Credit Standards—
(SANTA ANA, CA) - CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today released its June CoreLogic MarketPulse report. The monthly economic publication provides insight into the current and future health of the U.S. economic climate with particular focus on housing and mortgage metrics. CoreLogic Chief Economist Mark Fleming and Senior Economist Sam Khater authored the articles. In addition, this month's edition includes an opening letter to the industry by Anand Nallathambi, CoreLogic President and CEO, featuring his personal observations on the state of the housing economy.
Key findings in the June MarketPulse Report include:
- The Home Price Index (HPI) including distressed sales posted two consecutive months of year-over-year increases in April 2012, the first such increase since the summer of 2010 when the housing market was benefitting from tax credits.
- Single-family construction activity increased 2.3 percent in April, and is up 25 percent over the last six months.
- Months' supply of unsold homes fell to just more than six months in April 2012 and is currently at the lowest level in more than five years.
- As the flow of REOs has slowed over the last 18 months, negative equity has become a positive force in real estate markets by restricting supply in the face of increasing demand.
- The housing market has transitioned from pricing dynamics driven by economic weakness and high shares of distressed sales to one of restricted supply, which will likely exist for some time to come—a reason for optimism in many hard hit markets.
- Collateral credit standards are now more liberal than at any time in the past two decades when measured by the average combined loan to value ratio (CLTV) over time for purchase mortgage loans including first and junior liens.
For a complete copy of the June CoreLogic MarketPulse report, including a complete set of data and charts, visit http://www.corelogic.com/downloadable-docs/MarketPulse_2012-June.pdf.
CoreLogic (NYSE: CLGX) 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. CoreLogic has built one of the largest and most comprehensive U.S. real estate, mortgage application, fraud, and loan performance databases and is a recognized leading provider of mortgage and automotive credit reporting, property tax, valuation, flood determination, and geospatial analytics and services. More than one million users rely on CoreLogic to assess risk, support underwriting, investment and marketing decisions, prevent fraud, and improve business performance in their daily operations. The Company, headquartered in Santa Ana, Calif., has approximately 5,000 employees globally. For more information, visit www.corelogic.com.
CORELOGIC and the stylized CoreLogic logo are registered trademarks owned by CoreLogic, Inc. and/or its subsidiaries. No trademark of CoreLogic shall be used without the express written consent of CoreLogic.
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