First American CoreLogic Releases November 2007 LoanPerformance House Price Index
California, Nevada, Arizona, and Florida Continue Decline, While Thirty-One States Show Positive Growth in Past Year
SAN FRANCISCO, Jan. 24, 2008–First American CoreLogic, a member of The First American Corporation (NYSE:FAF) family of companies and a leader in residential mortgage data and analytics for the mortgage industry and Wall Street, today announced the release of its November 2007 LoanPerformance Home Price Index (HPI).
The LoanPerformance HPI provides a comprehensive set of monthly home price indices and median sales prices covering 7,462 ZIP codes, 956 Core Based Statistical Areas (CBSA) and 662 counties located in all 50 states and the District of Columbia. The indices, which are the most comprehensive available in the industry, are reported to clients five weeks after each full month ends.
“The latest LoanPerformance HPI release reveals that, although real estate in key markets like California, Florida, Nevada and Arizona continue to exhibit home price depreciation, 31 states show HPI gains over the past 12 months,” said Damien Weldon, vice president, collateral and prepayment analytics for First American CoreLogic.
| 12-Month Change By Top CBSAs (Core Based Statistical Areas) as of November 2007 | |
| Honolulu, HI | 17.10% |
| Salt Lake City, UT | 10.53% |
| San Antonio, TX | 7.48% |
| Austin-Round Rock, TX | 7.47% |
| Raleigh-Cary, NC | 4.62% |
| Houston-Sugar Land-Baytown, TX | 4.16% |
| Dallas-Fort Worth-Arlington, TX | 3.53% |
| Charlotte-Gastonia-Concord, NC-SC | 2.62% |
| Portland-Vancouver-Beaverton, OR-WA | 2.01% |
| Seattle-Tacoma-Bellevue, WA | 1.23% |
| New York-White Plains-Wayne, NY-NJ | -0.51% |
| Detroit-Warren-Livonia, MI | -0.79% |
| Philadelphia, PA | -1.00% |
| Chicago-Naperville-Joliet, IL-IN-WI | -1.63% |
| San Francisco-San Mateo-Redwood City, CA | -2.06% |
| Atlanta-Sandy Springs-Marietta, GA | -2.59% |
| New York-Northern New Jersey-Long Island, NY-NJ-PA | -3.30% |
| Denver-Aurora, CO | -3.30% |
| Minneapolis-St. Paul-Bloomington, MN-WI | -3.93% |
| St. Louis, MO-IL | -4.54% |
| Boston-Quincy, MA | -5.11% |
| Miami-Miami Beach-Kendall, FL | -7.23% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | -7.77% |
| Cleveland-Elyria-Mentor, OH | -8.72% |
| Tampa-St. Petersburg-Clearwater, FL | -9.19% |
| Phoenix-Mesa-Scottsdale, AZ | -11.42% |
| Orlando-Kissimmee, FL | -11.49% |
| Miami-Fort Lauderdale-Miami Beach, FL | -12.11% |
| Oakland-Fremont-Hayward, CA | -12.89% |
| Las Vegas-Paradise, NV | -12.96% |
| Los Angeles-Long Beach-Santa Ana, CA | -13.16% |
| San Diego-Carlsbad-San Marcos, CA | -13.16% |
| Riverside-San Bernardino-Ontario, CA | -16.82% |
Source: LoanPerformance HPI, Single Family Detached Series as of November 2007
Early View for December 2007 HPI Now Available
With this month’s release, the LoanPerformance HPI has been enhanced to include indices representing repeat sales updated through the middle of the most recent month (in this case mid-December). This provides clients with a timely snapshot of trends available with only a three-week lag period after sales. State and top CBSA-level data through mid-December and sample reports can be found at http://www.loanperformance.com/products/hpi.aspx.
Published to the market by the third week of each month, the LoanPerformance HPI incorporates more than 30 years of repeat sales transactions, representing more than 45 million observations, sourced from First American CoreLogic’s industry-leading property information database.
LoanPerformance HPI provides multi-tier market evaluation based on price, time between sales, property type and loan type (conforming vs. nonconforming). With LoanPerformance HPI, users can monitor real estate trends by market, identify at-risk markets as they unfold, selectively evaluate markets by tier and fine tune investment strategies.
LoanPerformance HPI is delivered through the TrueStandings® Web-based business intelligence platform, which provides instant access to real estate price trends in all of the key local markets in the United States. Data can be sorted by time period, state, county, CBSA and ZIP code. In addition, all LoanPerformance HPI indices are available monthly for download via file transfer protocol (FTP).
About First American CoreLogic
First American CoreLogic, a member of The First American Corporation (NYSE:FAF) family of companies, was formed through the merger of First American Real Estate Solutions, America’s largest provider of advanced property and ownership information, analytics and services, and CoreLogic, the leading provider of residential mortgage risk management and fraud protection technology and services. The combined companies’ databases cover more than 3,000 counties, representing 99.1 percent of the United States population. With more than 600,000 users nationwide, First American CoreLogic products are used by businesses to improve customer acquisition and retention, detect and prevent fraud, improve mortgage transaction cycle time and cost efficiency, measure the value of residential and commercial properties, identify real estate trends and neighborhood characteristics, track market performance and increase market share. More information about First American CoreLogic can be found at www.facorelogic.com.
About The First American Corporation
The First American Corporation (NYSE: FAF) is a FORTUNE 500® company that traces its history to 1889. With revenues of $8.5 billion in 2006, it is America’s largest provider of business information. First American combines advanced analytics with its vast data resources to supply businesses and consumers with valuable information products to support the major economic events of people’s lives, such as getting a job, renting an apartment, buying a car or house, securing a mortgage and opening or buying a business. The First American Family of Companies, many of which command leading market share positions in their respective industries, operate within five primary business segments, including: Title Insurance and Services, Specialty Insurance, Mortgage Information, Property Information and First Advantage. More information about the company and an archive of its press releases can be found at www.firstam.com.
Media Contact:
Carrie Gaska
Corporate Communications
The First American Corporation
(714) 250-3298
cgaska (at) firstam (dot) com
Investor Contact:
Mark Seaton
Investor Relations
The First American Corporation
(714) 250-4264
mseaton (at) firstam (dot) com
