Best automation opportunities for loan processing

Join our expert panelists to learn how lenders can achieve their goals using the integration of intelligent document automation and RPA technology.

4 Strategies to Strengthen Customer Relationships

Discover the right strategies to execute fast-acting campaigns, track results and improve your bottom line – all while strengthening customer relationships.

HousingWire's 2021 Spring Summit

We’ve gathered four of the top housing economists to speak at our virtual summit, a new event designed for HW+ members that’s focused on The Year-Round Purchase Market.

An Honest Conversation on minority homeownership

In this episode, Lloyd interviews a senior research associate in the Housing Finance Policy Center at the Urban Institute about the history and data behind minority homeownership.

Real Estate

CoreLogic: Bidding frenzy sends home prices soaring

Home prices jump nearly 7% in April

As interest rates dropped in April, homebuyers rushed into the market, sending home prices shooting up, according to the latest report from CoreLogic, a property information, analytics and data-enabled solutions provider.

Home prices, including distressed sales, increased 6.9% annually in April and 1.6% from March, according to the CoreLogic Home Price Index and HPI Forecast.

Click to Enlarge

Home prices

(Source: CoreLogic)

“Mortgage rates in April dipped back to their lowest level since November of last year, spurring home-buying activity,” CoreLogic Chief Economist Frank Nothaft said. “In some metro areas, there has been a bidding frenzy as multiple contracts are placed on a single home.

“This has led home-price growth to outpace rent gains,” Nothaft said. “Nationally, home prices were up 6.9% over the last year, while rent growth for single-family rental homes recorded a 3% rise through April, according to the CoreLogic Single-Family Rental Index.”

Looking ahead, the forecast indicates home prices will increase 5.1% by April 2018, and 0.7% from April to May this year. 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.

“Interest rates on fixed-rate mortgages are down by one-fourth of a percentage point since mid-March, just in time to support the spring home-buying season,” CoreLogic President and CEO Frank Martell said.

“Some metro areas have low for-sale inventory, short time-on-market trends and homes that sell above the list price,” Martell said. “Geographically, gains were strongest in the West with Washington and Utah posting double-digit gains.”

Most Popular Articles

Chopra warns of post-COVID housing market fallout

Rohit Chopra warned of housing market fallout and said he would focus on helping struggling homeowners at his Senate Confirmation hearing.

Mar 03, 2021 By

Latest Articles

CFPB delays QM compliance date to October 2022

The Consumer Financial Protection Bureau released a notice of proposed rulemaking on Tuesday to delay the mandatory compliance date of the Qualified Mortgage final rule from July 1, 2021 to October 1, 2022.

Mar 04, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please