CoreLogic® Releases December MarketPulse Report --Report Highlights the Economic Impact of Residential Investment in the Post-Recession Housing Market--
IRVINE, Calif., Dec. 12, 2012 /PRNewswire/ -- CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today released its December MarketPulse report. The monthly publication provides insight into the health of the U.S. economy with emphasis on housing and mortgage metrics. CoreLogic Chief Economist Mark Fleming and Principal Economist Sam Khater, along with colleagues from the CoreLogic Office of the Chief Economist, authored the articles. This month's edition includes commentary by CoreLogic President and CEO Anand Nallathambi on the housing market recovery in the year ahead.
Key findings in the December MarketPulse report include:
- Rental income produced from residential properties increased 12 percent year-over-year in September 2012. The rapid growth in rental income is a byproduct of fundamental shifts in the housing market, driven by a large increase in affordability of investment properties and rising rents.
- Heading into 2013, the trend in overall rental income will likely reflect tightness in the single-family rental market and a continued rise in rental demand given weak wage income and job growth.
- The real estate cycle is now producing residential investment that is contributing to economic growth in line with post-recession history.
- Lenders have returned to more sustainable loan products and remain cautious in extending credit to only the most qualified borrowers.
- Overall market uncertainty can be reduced further by a reduction in mortgage risk, investment-driven economic recovery and further clarity on housing policies, leading to more sustainable profits and outcomes for real estate and housing finance.
For a full copy of the December CoreLogic MarketPulse report, including a complete set of data and charts, visit http://www.corelogic.com/downloadable-docs/MarketPulse_2012-December.pdf.
CoreLogic (NYSE: CLGX) is a leading residential property information, analytics and services provider in the United States and Australia. Our combined data from public, contributory and proprietary sources spans over 700 million records across 40 years including detailed property records, consumer credit, tenancy, hazard risk and location information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, transportation and government. We deliver value to our clients through unique data, analytics, workflow technology, advisory and managed services. Our clients rely on us to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic operates in seven countries. For more information, please visit www.corelogic.com.
CORELOGIC and the CoreLogic logo are registered trademarks owned by CoreLogic, Inc. and/or its subsidiaries.