Real Estate market accelerating in all areas
CoreLogic’s September MarketPulse report, a monthly economic publication that provides insight into the current and future health of the U.S. economic climate with emphasis on housing and mortgage metrics, found that while robust economic growth remains elusive, the housing market is accelerating in all areas. Home sales are up, mortgage performance is improving, and prices are rapidly improving.
CoreLogic’s September MarketPulse report, a monthly economic publication that provides insight into the current and future health of the U.S. economic climate with emphasis on housing and mortgage metrics, found that while robust economic growth remains elusive, the housing market is accelerating in all areas. Home sales are up, mortgage performance is improving, and prices are rapidly improving.
Land
is a critical cyclical component that drives home values. Currently
land share of total home value is historically low, but if land sales
begin to increase rapidly, home prices could rise more quickly than
traditional income and rent-to-price fundamental indicators warrant, and
would contribute to overall economic growth.
The
newly introduced CoreLogic Real Estate Strength Index (RESi™), is a
monthly index that compares and ranks the quality, sustainability and
health of metropolitan markets by incorporating economic, real estate
and mortgage factors.
According
to RESi, the majority of the most-improved U.S. housing markets are in
western markets, which peaked and bottomed earlier than many eastern and
southern markets. Boise, Idaho, holds the top spot for most improved,
followed by Phoenix, Ariz. and West Palm Beach, Fla…
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