'After a long period of decline, we are likely to see steady waves of delinquencies throughout the rest of 2020 and into 2021,' warns CoreLogic
Although the stock market has been volatile for weeks and unemployment has continued to rise, home prices have been seemingly unaffected
Home prices rose 4.5% in March even as closed home sales fell
Home prices rose 4.2% in February, before closures due to the coronavirus began to wreak havoc on the real estate industry, according to latest US National Home Price NSA Index
'We expect delinquency rates to jump significantly throughout the year as the economic toll from COVID-19 becomes more evident,' CoreLogic President Frank Martell said
Because sales typically represent contracts that were signed in the previous two months, CoreLogic expects the pandemic's effects will start to show in the April data
Home prices rose 3.9% in January, but the data does not take into account the impact of the coronavirus pandemic, which didn't take hold in the US until late February
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'With unprecedented low rates and constrained supply, the housing market should continue to do well,' said Frank Martell, president and CEO of CoreLogic
After a slight uptick the previous month, nationwide delinquency rates have fallen to the lowest level since June 2000
Overall, prices increased 4% year over year in January, according to the latest CoreLogic report
Average prices rose 3.8% in December, according to the Case-Shiller National Home Price NSA Index
CoreLogic's MLS system currently has more than 820,000 active users
Nationwide, rent prices grew by 2.9% year-over-year in December 2019 — down from 3% in November
Only 3.9 percent of mortgages were in some stage of delinquency in November