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Thom holds the position of Professional, Economist in the Office of the Chief Economist at CoreLogic. He is responsible for analyzing housing markets and home price trends. He has an extensive background in urban and real estate economics and applied econometrics.
Before joining CoreLogic, he held positions at the University of Virginia, Georgia Tech, and Harvard University. He earned his bachelor’s degree in economics, statistics and history at the University of Auckland, his master’s degree in economics from Tufts University and his doctorate in urban planning and development from the University of Southern California.
Despite pandemic migration patterns, the nation’s priciest housing markets are still now very similar to rankings recorded in the spring of 2020.
U.S. residential real estate is worth more than all publicly listed companies, according to CoreLogic data, with most of that wealth concentrated in detached, single-family homes.
After the real estate housing market recorded a record 18.25% appreciation in March 2022, annual new home price appreciation slowed to 4%.
Small investor activity has shown resilience, with mom-and-pop investors retaining market share even as prices increase.
This is the first time the price spread converged since the housing crisis ended in July 2012.
Home price appreciation dropped in July for the first time since December 2018, ending a 40-month streak of growth.