Author Archives: ipgocorp

CoreLogic Home Price Index Shows Prices Up 6.7 Percent with Increases Projected Over Next 12-Months

Posted on by

IRVINE, CA – CoreLogic, a leading global property information, analytics and data-enabled services provider, released its CoreLogic Home Price Index and HPI Forecast data for March 2016 which shows home prices are up both year over year and month over month.

Home prices nationwide, including distressed sales, increased year over year by 6.7 percent in March 2016 compared with March 2015 and increased month over month by 2.1 percent in March 2016 compared with February 2016, according to the CoreLogic HPI.

The CoreLogic HPI Forecast indicates that home prices will increase by 5.3 percent on a year-over-year basis from March 2016 to March 2017, and on a month-over-month basis home prices are expected to increase 0.7 percent from March 2016 to April 2016. The CoreLogic HPI Forecast is a projection of home prices using the CoreLogic HPI and other economic variables. Values are derived from state-level forecasts by weighting indices according to the number of owner-occupied households for each state.

“Housing helped keep U.S. economic growth afloat in the first quarter of 2016 as residential investment recorded its strongest gain since the end of 2012,” said Dr. Frank Nothaft, chief economist for CoreLogic. “Low interest rates and increased home building suggest that housing will continue to be a growth driver.”

“Home prices reached the bottom five years ago, and since then have appreciated nearly 40 percent,” said Anand Nallathambi, president and CEO of CoreLogic. “The highest appreciation was in the West, where prices continue to increase at double-digit rates.”

Powered by WPeMatico

Millennials want to buy houses but can't get mortgages

Posted on by

(RECAP: It is the No. 1 barrier to entry for young, would-be homebuyers: credit. Millennials are the first generation to come of age in a post-nearly-apocalyptic housing market, where lenders, eight years later, are still paying billions in reparations for mortgage misconduct and outright fraud. Millennial homebuyers are also paying a price. “The mortgage industry is poised to experience a monumental shift as more millennial homebuyers start to enter the market,” said Joe Tyrrell, executive vice president of corporate strategy at Ellie Mae. “There are roughly 87 million would-be homebuyers in the millennial generation and 91 percent of them say they intend to own a home one day.” Millennials are even starting to go to the suburbs, and in fact, last year marked a turning point, where urban centers reached “peak millennial,” according to a new study from Dowell Myers, a professor of urban plotting and demography at the USC Price School of Public Policy.)

Powered by WPeMatico

HUD Awards $355 Million for Local Homeless Programs

Posted on by

(RECAP: Today, HUD Secretary Julián Castro awarded $355 million to more than 1,200 local homeless housing and service programs across the U.S. and Puerto Rico, including 33 grants for programs in Virginia. These Continuum of Care (CoC) grants support the Obama Administration’s efforts to end homelessness and build upon the $1.6 billion in funding HUD awarded through a first round of funding in March. The competition to award FY 2015 CoC grants was the most competitive ever, both locally and nationally. This is consistent with HUD’s policy goals as well as Congressional direction to stringently review performance, increase competition for CoCs, and not simply fund renewals in the FY 2015 CoC competition.)

Powered by WPeMatico