Analytics product leverages CoreLogic HPI data and economic information to help mortgage professionals spot possible housing market downturns—
IRVINE, Calif., October 28, 2019— CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled services provider, today announced Market Risk Indicators, an analytics product that provides probability scores for home price declines in the top 392 metropolitan areas in addition to all 50 states and Washington, D.C. Market Risk Indicators are designed to predict the probability of a home price decline over a 12-month period.
Market Risk Indicators provide mortgage professionals with the tools they need to mitigate their risk in select metropolitan areas that may experience home price downturns. Developed by the same data scientists that created the CoreLogic Home Price Index (HPI), Market Risk Indicators are delivered monthly as an add-on module within the CoreLogic HPI or HPI Forecast. Users will get two different score probabilities for each metro area and state – the probability price decline of less than 10% and the probability of a price decline of 10% or more. The product leverages proprietary CoreLogic data sources along with economic information provided by IHS Markit® – a leading economic data provider.
“With a majority of economists predicting an economic downturn in the next 18 months, it’s more critical than ever that mortgage professionals understand where potential market pitfalls may lie,” said Ann Regan, executive, Collateral Solutions for CoreLogic. “Market Risk Indicators can help originators better set market strategy and help investors better manage their loan portfolios without spending hundreds of thousands of dollars collecting and analyzing the data on their own. We are already seeing several markets at risk for price downturns over the next 12 months, and we expect the risk to spread to other areas over the course of the next several months.”
Market Risk Indicators are a subscription-based service available with the CoreLogic HPI or HPI Forecast. For more information, visit www.corelogic.com.