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CoreLogic Home Price Index Rises by 10.5 Percent Year Over Year in March

—Pending HPI Projects 9.6 Percent Growth Year Over Year in April—

Irvine, Calif., May 7, 2013 /PRNewswire/ — CoreLogic® (NYSE: CLGX), a leading residential property information, analytics and services provider, today released its March CoreLogic HPI® report. Home prices nationwide, including distressed sales, increased 10.5 percent on a year-over-year basis in March 2013 compared to March 2012. This change represents the biggest year-over-year increase since March 2006 and the 13th consecutive monthly increase in home prices nationally. On a month-over-month basis, including distressed sales, home prices increased by 1.9 percent in March 2013 compared to February 2013*.

Excluding distressed sales, home prices increased on a year-over-year basis by 10.7 percent in March 2013 compared to March 2012. On a month-over-month basis, excluding distressed sales, home prices increased 2.4 percent in March 2013 compared to February 2013. Distressed sales include short sales and real estate owned (REO) transactions.

The CoreLogic Pending HPI indicates that April 2013 home prices, including distressed sales, are expected to rise by 9.6 percent on a year-over-year basis from April 2012 and rise by 1.3 percent on a month-over-month basis from March 2013. Excluding distressed sales, April 2013 home prices are poised to rise 12 percent year over year from April 2012 and by 2.7 percent month over month from March 2013. The CoreLogic Pending HPI is a proprietary and exclusive metric that provides the most current indication of trends in home prices. It is based on Multiple Listing Service (MLS) data that measure price changes for the most recent month.

“For the first time since March 2006, both the overall index and the index that excludes distressed sales are above 10 percent year over year,” said Dr. Mark Fleming, chief economist for CoreLogic. “The pace of appreciation has been accelerating throughout 2012 and so far in 2013 leading into the home buying season.”

“Home prices continue to rise at a double-digit rate in March led by strong gains in the western region of the U.S. Looking ahead, the CoreLogic pending index for April indicates that upward price appreciation will continue,” said Anand Nallathambi, president and CEO of CoreLogic. “Much of the price increases we are seeing are the result of rising demand among investors and homebuyers for a still-limited supply of homes for sale.”

Highlights as of March 2013:

*February data was revised. Revisions with public records data are standard, and to ensure accuracy, CoreLogic incorporates the newly released public data to provide updated results.

Table 1: March HPI for the Country’s Largest CBSAs by Population (Ranked by Single-Family Including Distressed)

Table 2: March National and State HPI (Ranked by Single-Family Including Distressed)

Figure 1: Home Price Index
Percentage Change Year-Over-Year

Map 1: Single-Family Combined Series
12-Month Change by State

Map 2: Single-Family Combined Excluding Distressed Series
12-Month Change by State

Methodology
The CoreLogic HPI incorporates more than 30 years’ worth of repeat sales transactions, representing more than 65 million observations sourced from CoreLogic industry-leading property information and its securities and servicing databases. The CoreLogic HPI provides a multi-tier market evaluation based on price, time between sales, property type, loan type (conforming vs. nonconforming) and distressed sales. The CoreLogic HPI is a repeat-sales index that tracks increases and decreases in sales prices for the same homes over time, including single-family attached and single-family detached homes, which provides a more accurate "constant-quality" view of pricing trends than basing analysis on all home sales. The CoreLogic HPI provides the most comprehensive set of monthly home price indices available covering 6,860 ZIP codes (58 percent of total U.S. population), 637 Core Based Statistical Areas (86 percent of total U.S. population) and 1,210 counties (84 percent of total U.S. population) located in all 50 states and the District of Columbia.

Source:  CoreLogic
The data provided are for use only by the primary recipient or the primary recipient’s publication or broadcast. This data may not be re-sold, republished or licensed to any other source, including publications and sources owned by the primary recipient’s parent company without prior written permission from CoreLogic. Any CoreLogic data used for publication or broadcast, in whole or in part, must be sourced as coming from CoreLogic, a data and analytics company. For use with broadcast or web content, the citation must directly accompany first reference of the data. If the data are illustrated with maps, charts, graphs or other visual elements, the CoreLogic logo must be included on screen or website. For questions, analysis or interpretation of the data, contact Lori Guyton at lguyton@cvic.com or Bill Campbell at bill@campbelllewis.com. Data provided may not be modified without the prior written permission of CoreLogic. Do not use the data in any unlawful manner. The data are compiled from public records, contributory databases and proprietary analytics, and its accuracy is dependent upon these sources.

About CoreLogic
CoreLogic (NYSE: CLGX) is a leading property information, analytics and services provider in the United States and Australia. The Company’s combined data from public, contributory, and proprietary sources includes over 3.3 billion records spanning more than 40 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, transportation and government. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic 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, the CoreLogic logo and HPI are trademarks of CoreLogic, Inc. and/or its subsidiaries.

For real estate industry and trade media:

Bill Campbell
bill@campbelllewis.com
(212) 995.8057

For general news media:

Lori Guyton
lguyton@cvic.com
(901) 277.6066

Photo Gallery

Table 1: March HPI for the Country’s Largest CBSAs by Population (Ranked by Single Family Including Distressed)
Table 1: March HPI for the Country’s Largest CBSAs by Population (Ranked by Single Family Including Distressed)
Table 2: March National and State HPI (Ranked by Single Family Including Distressed)
Table 2: March National and State HPI (Ranked by Single Family Including Distressed)
Figure 1: Home Price Index
Percentage Change Year-Over-Year
Map 1: Single-Family Combined Series
12-Month Change by State
Map 2: Single-Family Combined Excluding Distressed Series
12-Month Change by State

Related Links

www.corelogic.com