CoreLogic, a data provider, and National Association of Realtors (needs no introduction), have been in a somewhat public spat about the quality of NAR’s data. CoreLogic contends that NAR over-states the number of homes sold in any given period by up to 20%. (The original news item is “Decline in real estate sales greater than [...]
Tag Archives | CoreLogic
Distressed sales continue to drag home values down
Distressed homes have had a significant effect on housing values in the Chicago region, but even homes not distressed are still falling significantly. The chart attached shows the year-over-year percentage change in Chicago-area homes. The blue line shows all homes; the orange line shows only those not subject to a distressed sale. The quarters in [...]
Reduced mobility bodes ill for economic recovery
It’s a lot harder to move if you have negative equity in your home, a new study by CoreLogic confirms. The chart below shows that the number of sales in zip codes with high levels of negative equity have fallen more than twice as fast as those in neighborhoods with low levels of negative equity: [...]
Lenders concerned about short sale fraud
CoreLogic, an industry group that manages a database of closed transactions across the U.S., estimated that 1.9 percent of all short sales are fraudulent and they cost lenders $300 billion per year, according to a new study. A fraudulent short sale can take several forms, but is usually a variation on this theme: A “distressed” [...]
Connect
Subscribe to our e-mail newsletter to receive updates.
Chicago Housing Snapshot
Economy
