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Home | Tag Archives: CoreLogic

Tag Archives: CoreLogic

Shrinking REO Inventory Drives Down Cash Sales Share


At their peak in January 2011, cash sales accounted for nearly half of all residential home sales in the United States (46.5 percent). Since then, that percentage has steadily declined; in August 2015, it was reported at 31.7 percent, less than one-third of all home sales—a decline of more than 3 percentage points from August 2014, when it was 34.9 percent.

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Foreclosure Completions Skyrocket While Inventory Plummets


The number of completed foreclosures surged from 37,000 in August up to 55,000 in September, an increase of 49.5 percent, largely due to an annual public auctioning of thousands of tax-foreclosed properties in Wayne County, Michigan, where Detroit is the county seat, according to CoreLogic. By comparison, foreclosure completions averaged about 21,000 per month in the pre-recession years from 2000 to 2006.

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CoreLogic Launches The Insights Mobile App


CoreLogic, a leading global property information, analytics, and data-enabled services provider, recently announced that it has come out with the Insights App, a mobile app designed to enhance user perspective on U.S. and international property markets.

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Distressed Sales Continue Descent Toward Historical Norms


The distressed sales share, which includes sales of REO properties and short sales, was reported to be 9.3 percent for August 2015, down 2.3 percentage points from August 2014. August’s distressed sales share of 9.3 percent is the lowest since September 2007 and is less than a third off from its peak in January 2009, when it made up nearly a third of total residential home sales (32.4 percent).

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Cash Sales Share Drops to Nine-Year Low


With July’s decline, the cash sales share has fallen year-over-year every month since January 2013, a total of 31 consecutive months, according to CoreLogic. July 2015’s reported share of 30.8 percent was a dropoff from the share of 34.2 percent reported in July 2014. As has historically been the case, REO sales made up 56 percent of cash sales in July 2015, and resales had the second highest share at 30.2 percent.

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Household Formation Has Accelerated After Eight Years at Low Levels


The two primary drivers of household formation over time are demographic and economic factors, according to Nothaft. For example, household growth averaged about 2 percent annually from the mid-1960s until the early 1980s when baby boomers were at the prime household formation age, but household formation rates halved from 1990 until the mid-2000s when the population of those born in the 1970s, a much smaller birth cohort, reached their 20s.

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