All the Real Estate News That’s Fit to RE-Print™
Welcome to our weekly edition of Real Estate Investing News This Week. Here’s the best of this week’s real estate news:
- CoreLogic reports home prices rise by 12 percent
- Foreclosures decrease as market recovers
- 4 million residential properties returned to positive equity in 2013
- Consumer credit risk drops to lowest level since 2005
We hope these real estate news items help you stay up-to-date with your real estate investing strategies and inspire some profitable real estate deals for you.
On Tuesday, CoreLogic® released its January CoreLogic Home Price Index report. Home prices nationwide, including distressed sales, increased 12 percent in January 2014 compared to January 2013.
This change represents 23 months of consecutive year-over-year increases in home prices nationally.
Excluding distressed sales, home prices nationally increased 9.8 percent in January 2014 compared to January 2013. Distressed sales include short sales and real estate owned (REO) transactions.
Complete details here: Home Price Index Report >>>
By Colin Robbins
“DataQuick revealed its monthly Property Intelligence Report (PIR), showing that foreclosures have decreased in 31 of the 42 reporting markets over the last month, quarter, and year.
Along with a general decrease in foreclosures across the measured markets, DataQuick reports that January home price growth has leveled off in nearly all markets, even turning negative in others….
The average yearly home price growth across all 42 reporting markets dropped from 9.9 percent in December to 8.9 percent last month.”
––6.5 Million Residential Properties with a Mortgage Still in Negative Equity––
On Thursday, CoreLogic® released new analysis showing 4 million homes returned to positive equity in 2013, bringing the total number of mortgaged residential properties with equity to 42.7 million.
The CoreLogic analysis indicates that nearly 6.5 million homes, or 13.3 percent of all residential properties with a mortgage, were still in negative equity at the end of 2013.
Of the 42.7 million residential properties with positive equity, 10 million have less than 20 percent equity.
“The plight of the underwater borrower has improved dramatically since negative equity peaked in December 2009 when more than 12 million mortgaged homeowners were underwater,” said Mark Fleming, chief economist for CoreLogic. “Over the past four years, more than 5.5 million homeowners have regained equity, reducing their risk of foreclosure and unlocking pent-up supply in the housing market.”
By Colin Robbins
“TransUnion released its Credit Risk Index, which measures aggregate credit risk in the nation. The report released Wednesday concluded that credit risk dropped at the end of 2013 to the lowest level since 2005.
The index dropped to 110.10 in the fourth quarter of 2013, down nearly 9 percent from the 120.64 reading from Q4 2012.”