CoreLogic, a leading provider of information, analytics and business services, recently 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:
The 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.
For more information, visit www.corelogic.com.
