CoreLogic : Releases Most Recent HPI Forecast Validation Report

February 22, 2018, Irvine, Calif. -

• Analysis Reveals 12-Month, National Forecast is Within 1.7 Percent of Actual HPI Increase
• Report Also Analyzes Housing Markets That Are Finalists for Amazon HQ2

CoreLogic^® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its latest CoreLogic HPI Forecasts Validation Report that publicly compares its 12-month CoreLogic HPI Forecasts to the actual CoreLogic HPI Index. The report compares the changes in national and key CBSA-level forecasts made in November 2017 to the actual HPI index released in February of 2018, which includes data through November 2017.

The CoreLogic HPI Forecast is a projection of home prices using the CoreLogic HPI and other economic variables. National values are derived from state-level forecasts by weighing indices according to the number of housing units for each state.

The report showed:

• The national forecast prediction of a 4.5 percent increase was within 1.7 percent of the 6.2 percent increase of the HPI for the 12-month period ending in November 2017.
• The most accurate CBSA-level forecast was for the Washington-Arlington-Alexandria area, which at 3.5 percent came within 0.1 percent of the actual HPI increase of 3.6 percent.
• The widest CBSA gap was in Seattle-Bellevue-Everett, WA with an 8.7 percent under-estimation of actual increase (5.2 percent forecasted vs. 13.9 percent actual). CoreLogic noted that the variance in this over-valued CBSA was due to a severely constrained supply of homes for sale (1.5 months versus 5.7 months nationally) among other factors.
• Among the 10-most accurately forecasted MSAs, the average difference was 0.6 percent and the range was between 0.1 percent and 1.2 percent.
• Of the markets being considered for Amazon's HQ2, only 6 of the markets have housing market conditions that are normal or undervalued, according to our Market Condition Indicators.

'The release of the HPI Forecast Validation Report shows that our assumptions that continued home price growth throughout the nation were correct,' said Dr. Frank Nothaft, chief economist for CoreLogic. 'Additionally, insight into the potential Amazon HQ2 locations shows that all of the markets being considered are currently experiencing home price growth, which we can expect to accelerate in the city that is eventually selected.'

About CoreLogic

CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled solutions provider. The company's combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 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, and the public sector. 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 North America, Western Europe and Asia Pacific. For more information, please visit www.corelogic.com.

CORELOGIC, the CoreLogic logo, CoreLogic HPI, CoreLogic HPI Forecast and HPI are trademarks of CoreLogic, Inc. and/or its subsidiaries.