Top of Mind CoreLogic’s Selma Hepp’s Forecast for the 2024 Housing Market
In this episode of the Top of Mind podcast, Mike Simonsen sits down with Selma Hepp, Chief Economist at CoreLogic, to get her take on what’s happening in the housing economy. Selma shares CoreLogic’s forecast for 2024 home prices and mortgage rates, talks about the biggest surprises from 2023, and offers insights into how they hit the mark on their 2023 forecast when everyone else was expecting prices to fall. She also discusses CoreLogic’s new Climate Risk Analysis platform and the growing impact of insurance costs in risky states.
About Selma Hepp
Selma Hepp is the Chief Economist for CoreLogic, America’s largest provider of advanced property and ownership information, analytics and data-enabled services. Selma leads the economics team, which is responsible for analyzing, interpreting and forecasting housing and economic trends in real estate, mortgage and insurance.
Prior to joining CoreLogic in 2020, Selma was Chief Economist and Vice President of Business Intelligence for Pacific Union International, later acquired by Compass, where she oversaw the vital economic and technology intelligence to drive the expanding brokerage’s success. Selma also held the role of Chief Economist for Trulia; Senior Economist for the California Association of Realtors; and Economist and Manager for Public Policy and Homeownership research for the National Association of Realtors, as well as a special research assistant at the U.S. Department of Housing and Urban Development.
Selma frequently appears on local and national radio and television programs and has been widely quoted in The Wall Street Journal, The New York Times and many industry trade publications such as National Mortgage News and HousingWire. Selma received the HousingWire Women of Influence Award in 2022.
Selma graduated from the State University of New York, Buffalo with an M.A. in Economics and holds a Ph.D. from the University of Maryland.
Here’s a glimpse of what you’ll learn:
- CoreLogic’s 2024 home price & mortgage rate forecast
- Why their 2023 forecast for slight home price appreciation was so unusual at the time, and yet it turned out to be precisely correct
- Other big housing market surprises from 2023
- Her biggest takeaways for 2024, including how much the mortgage market will rebound this year and why
- The surprising strength in refis in 2024
- Her take on the most important trends in housing policy for 2024
- What she’s worried about macro-economically and with housing in particular over the near future
- Why Phoenix and Las Vegas outperformed Austin last year - even when all were big boom markets during the pandemic
- Key findings from CoreLogic’s Quarterly investor report
- CoreLogic’s new Climate Risk Analysis platform and the growing impact of insurance costs in risky states.
Resources mentioned in this episode:
Featuring Mike Simonsen, President of Altos Research
A true data geek, Mike founded Altos Research in 2006 to bring data and insight on the U.S. housing market to those who need it most. The company now serves the largest Wall Street investment firms, banks, and tens of thousands of real estate professionals around the country. Mike's insights on the market have been featured in Forbes, New York Times, Bloomberg, Dallas Morning News, Seattle PI, and many other national media outlets.
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About Altos Research
The Top of Mind Podcast is produced by Altos Research.
Each week, Altos tracks every home for sale in the country - all the pricing, and all the changes in pricing - and synthesizes those analytics to make them available before becoming visible through traditional channels.
Schedule a demo to see Altos in action. You can also get a copy of our free eBook: How To Use Market Data to Build Your Real Estate Business.
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