CoreLogic Reports May Home Prices Increased by 7.1 Percent, Consumers Express Desire to Buy Despite High Prices
Summary
IRVINE, Calif.--( BUSINESS WIRE )--CoreLogic ® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index (HPI ™ ) and HPI Forecast ™ for May 2018, which shows home prices rose both year over year and month over month.May’s mortgage rates averaged a seven-year high of 4.6 percent, with an increasing number of homeowners keeping the low-rate loans they currently have, rather than sell and buy another home that would carry a higher interest rate.”The CoreLogic HPI ™ is built on industry-leading public record, servicing and securities real-estate databases and incorporates more than 40 years of repeat-sales transactions for analyzing home price trends.CoreLogic HPI Forecasts ™ are based on a two-stage, error-correction econometric model that combines the equilibrium home price—as a function of real disposable income per capita—with short-run fluctuations caused by market momentum, mean-reversion, and exogenous economic shocks like changes in the unemployment rate.The companys combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information.
Classifications
AskAI Classifications
LabelsLinked Companies
