—Report Reveals Potential Size of REO Rental Market in 2012 Is More Than $100 Billion Dollars—SANTA ANA, Calif., April 11, 2012 — (PRNewswire) — CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today released its April CoreLogic MarketPulse report. The monthly economic publication provides insight into the current and future health of the U.S. economic climate with particular focus on housing and mortgage metrics. Chief Economist Mark Fleming and Senior Economist Sam Khater authored the articles and commentary.
The April MarketPulse report:
- Indicates "now is a good time to buy," with housing affordability at its highest level ever (as of February 2012), and shows many of the key housing metrics are holding steady through the typically slow winter season.
- Reports the single-family rental market is strong and vibrant with high and stable rents, low months' supply and a healthy pace of signed rental leasings. The report reveals what markets offer the best return for single-family rental investors. "The potential size of the rental market for REOs this year (and annually over the next few years) is over $100 billion dollars," said Khater in the report.
- Shows capitalization rates for single-family rental properties in 26 geographically diverse markets. Capitalization rates are the most common metric for determining the profitability of an investment property.
- Provides a chart of the rent-to-mortgage ratio for Miami, Fla. The chart indicates the point in time when it became cheaper to buy than to rent, providing insight to investors buying and holding rental properties, as well as to new first-time home buyers.
For a complete copy of the April CoreLogic MarketPulse report, including a complete set of data and charts, visit http://www.corelogic.com/downloadable-docs/MarketPulse_2012-April.pdf.
CoreLogic (NYSE: CLGX) is a leading provider of consumer, financial and property information, analytics and services to business and government. The Company combines public, contributory and proprietary data to develop predictive decision analytics and provide business services that bring dynamic insight and transparency to the markets it serves. CoreLogic has built one of the largest and most comprehensive U.S. real estate, mortgage application, fraud, and loan performance databases and is a recognized leading provider of mortgage and automotive credit reporting, property tax, valuation, flood determination, and geospatial analytics and services. More than one million users rely on CoreLogic to assess risk, support underwriting, investment and marketing decisions, prevent fraud, and improve business performance in their daily operations. The Company, headquartered in Santa Ana, Calif., has approximately 5,000 employees globally. For more information, visit www.corelogic.com.
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Bill Campbell, Real Estate Industry and Trade Media
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