CoreLogic 90-plus day delinquency rates
While the national foreclosure inventory decreased year-over-year last month, New York and New Jersey were a couple of the states that saw an increase, putting them among the five states with the highest foreclosure rates, according to data released today by CoreLogic. Florida ranked first with a 12.1 percent foreclosure inventory rate, New Jersey came in second with 6.6 percent while New York came in fifth with 4.9 percent. [more]
Source: CoreLogic
Nationwide housing affordability is at its highest level in more than 20 years, according to CoreLogic’s MarketPulse report released today. U.S. homes are now twice as affordable as they were in April 2006, based on the ratio of typical household income to the annual income needed to buy a median priced homes at current mortgage rates, and at the highest rate seen since “prior to the early 1990s,” the report says. [more]
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While foreclosure and delinquency rates fell nationwide, local rates have increased, according to data released today by CoreLogic, and the delinquency for the White Plains-New York City-Wayne, NJ region set a new record.
In the State of New York, the foreclosure rate was 4.64 percent in December 2011, up from 4 percent during the same month a year prior. Not only does the December figure eclipse the national rate of 3.37 percent, but the 0.64 percentage point increase is a marked difference from the direction the national rate is heading, as it fell 0.19 percent year-over-year. [more]
About 11.1 million, or 22.8 percent, of all U.S. residential properties with a mortgage were in negative equity at the end of the fourth quarter of 2011, according to statistics released today by analytics firm CoreLogic, an increase from 10.7 million properties, or 22.1 percent of mortgaged U.S. homes, in the third quarter of 2011. [more]
CoreLogic report says real estate sector is "stuck in neutral"
There is good and bad news for the American economy, according to CoreLogic’s MarketPulse report for February 2012, released today. Labor markets, a leading indicator for other economic activity, are showing steady improvement, the report says, though real estate and financial markets related to real estate remain “stuck in neutral.”
In January, 243,000 jobs were added nationwide, and unemployment fell to 8.3 percent from 8.5 in December, the report says. [more]
Nationwide home prices fell by 4.7 percent nationally in 2011, decreasing for the fifth consecutive year, according to data from CoreLogic covering last year, released today.
The impact of distressed property sales on home prices was deeply felt; CoreLogic’s home price index, excluding distressed sales, shows that home prices decreased by only 0.9 percent. On a monthly basis, the index without distressed sales even posted its first month-over-month gain since July 2011, rising 0.2 percent, the data indicate. [more]
Click to enlargeShadow inventory nationwide remained at 1.6 million units through October 2011, approximately the same level as in January 2009, according to a report from CoreLogic. Florida, California and Illinois accounted for more than a third of the shadow inventory across the United States, with the top six states accounting for about half of all shadow inventory. Overall, for every two homes for sale in the country, there’s one home lurking in the shadow. — Alexander Britell [more]
Home prices in the U.S. decreased by 1.3 percent in October, in their third straight month-over-month decline, according to data released today by real estate analytics provider CoreLogic.
Prices of existing single-family homes, also declined, by 3.9 percent year-over-year, an increase from September’s year-over-year decline of 3.8 percent.. The year-over-year decline was 0.5 percent when excluding distressed sales.
However, in the New York-White Plains-Wayne, N.J. area, home prices increased by 2.6 percent year-over-year in October, including distressed sales. The decline was a greater 3.6 percent when distressed sales were excluded. – Guelda Voien
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The New York State Court of Appeals ruled that Attorney General Eric Schneiderman could pursue a lawsuit that accuses California-based First American Corp. and its former eAppraiseIT unit of colluding with Washington Mutual to inflate home values. According to Reuters, the ruling, issued today, ensures that federal law does not preclude individual states from pursuing claims of fraud against real estate appraisers.
In 2007, then-New York State Attorney General Andrew Cuomo filed the suit against the three parties, alleging they violated laws that attempt to ensure independent real estate appraisals. [more]
National housing prices declined on both a month-over-month and year-over-year basis in September, according to the Housing Market Index released yesterday by CoreLogic, but the news was far better for the New York City area.
The New York-White Plains-Wayne, N.J. market experienced a 2.2 percent increase in single-family housing prices between September 2010 and September 2011, taking into account distressed sales. Excluding those sales, the year-over-year increase was 2.9 percent. – Adam Fusfeld [more]
