Report finds ‘less downward pressure’ on home prices

Stabilizing nondistressed home prices, a declining shadow inventory and stronger foreclosure auctions should lead to lower distressed sales and less downward pressure on prices, according to new report released by CoreLogic, a provider of consumer, financial and property analytics.

The report notes that while mortgage performance is improving, it is not improving nearly as much as other consumer debt performance.

Despite a bit of positive news in the report, CoreLogic found that negative equity will remain a strong influence on the market for an extended period of time.