Radian Home Price Index Reveals 2019 Gain Is the Largest Annual Increase in More Than a Decade
30 Janvier 2020 - 10:48PM
Business Wire
Enhanced Radian HPI Data Sets to Offer More
Than 100,000 Unique Indices
Home prices across the United States rose 6.96 percent in 2019,
the largest annual increase since 2006, according to Radian Home
Price Index (HPI) data announced today by Radian Group Inc. (NYSE:
RDN). Radian HPI is the earliest to release and most comprehensive
measure of U.S. housing market prices and market strength.
The 6.96 percent annual gain from December 2018 to December
2019, was down slightly from the year-over-year increase of 7.98
percent reported at the end of the third quarter 2019. Nationally,
2019 will be remembered for having the 5th strongest home price
increases since 2000, with only the four consecutive years from
2002-2005 having stronger levels. Radian HPI includes more than 70
million unique addresses each month covering all property types and
geographies.
“While there was a slight decline from what we saw at the end of
the third quarter, strong home price increases in the Midwest and
the Mid-Atlantic region made 2019 the best year nationally for
homeowners since before the Great Recession,” said Steve Gaenzler,
senior vice president of Data and Analytics at Radian. “We saw the
Midwest Region start to emerge as a leader this past summer, and
the Mid-Atlantic Region, which had been near the bottom of the pack
until last quarter, surged in the 4th quarter. These two regions
really helped to support the impressive annual performance and also
illustrate the breadth of market resilience.”
The Mid-Atlantic region was the weakest gainer in 2018 but
rallied to achieve the second-hottest regional level in 2019. The
strong housing market in the Midwest resulted in an 8.6 percent
year-on-year gain; while softness in the Northeast led to a gain of
only 3.4 percent. The South, Southwest and West regions recorded
home price appreciation in 2019 that was similar to those recorded
in 2018 (+5-7 percent year-on-year).
Radian HPI also reported strong gains in major metropolitan
areas. A review of the top five Core-Based Statistical Areas
(CBSAs) showed that while there was a lower rate of growth reported
in the fourth quarter of 2019 compared to the prior quarter,
year-over-year gains were solid. Of the five largest metros by
population, the New York metro achieved a 5.5 percent rate of price
increase in 2019, followed by Dallas at 4.5 percent. A closer look
at the top 20 largest CBSAs shows that all had positive home price
appreciation in 2019, with Miami showing the lowest gains at 2.8
percent. Of the top 20 CBSAs, Seattle, WA, registered the largest
year-over-year gain, 7.6 percent.
ENHANCED RADIAN HPI
Today, Radian is also announcing an enhanced Radian HPI data set
along with a new client access portal for content visualization and
data extraction. The engine behind our HPI has created more than
100,000 unique data series which are available through the new
portal, span more than 10 years, and will be updated on a monthly
basis going forward.
“By providing direct access to our substantial, curated data, we
are empowering our clients and providing them a new edge in housing
intelligence,” said Radian’s Chief Executive Officer Rick
Thornberry. “The Radian HPI is a great example of how Radian
continues to innovate and change with the market to provide added
value for our customers.”
Radian’s national and regional indices are available for
download at info.radian.biz/hpi, along with information on how to
access the full library of indices. Additional content on the
housing market can also be found on the One Radian content Hub
located at https://www.radian.com/hpi/.
The enhanced Radian HPI is a self-service data and visualization
platform that contains a library of thousands of high-value indices
based on both geographic dimensions as well as by market, or
property attributes. The platform provides monthly updated access
to nine different geographic dimensions from the national level
down to zip codes. In addition, Radian HPI provides unique insights
into market changes, conditions and strength across multiple
property attributes, including bedroom count and livable square
footage. To help enhance its customers’ understanding of granular
real estate markets, Radian will expand the library regularly to
include more insightful indices.
About Radian
Radian is ensuring the American dream of homeownership
responsibly and sustainably through products and services that
include industry-leading mortgage insurance and a comprehensive
suite of mortgage, risk, real estate, and title services. We are
powered by technology, informed by data and driven to deliver new
and better ways to transact and manage risk. Learn more about
Radian’s financial strength and flexibility at www.radian.biz and
visit www.radian.com to see how Radian is shaping the future of
mortgage and real estate services.
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version on businesswire.com: https://www.businesswire.com/news/home/20200130005855/en/
Emily Riley – Phone: 215.231.1035 Email:
emily.riley@radian.com
Rashi Iyer – Phone: 215.231.1167 Email:
rashi.iyer@radian.com
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