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Economic Center Blog

Housing Market Potential Little Changed, But Will The Supply Shortage Continue In 2018?

By Mark Fleming on January 23, 2018

First American’s proprietary Potential Home Sales model examines December 2017 data and includes analysis from First American Chief Economist Mark Fleming on how the real estate market is performing versus its potential.

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Topics: Interest Rates, Homeownership, Potential Home Sales, mortgage rates, lien

The Drag On Affordability Explained

By FirstAm Editor on December 21, 2017

First American’s proprietary Real House Price Index (RHPI) looks at October 2017 data and includes analysis from First American Chief Economist Mark Fleming on the market forces that are keeping a lid on affordability.

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Topics: Interest Rates, Homeownership, Real House Price Index, income, affordability

Tightening Supply Squeezes Market Potential

By Mark Fleming on December 19, 2017

First American’s proprietary Potential Home Sales model examines November 2017 data and includes analysis from First American Chief Economist Mark Fleming on how the real estate market is performing versus its potential.

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Topics: Interest Rates, Homeownership, Potential Home Sales, mortgage rates

Best Cities To Maximize Borrowing Power For First-Time Home Buyers

By Mark Fleming on December 11, 2017

It’s a near certainty that the Federal Open Market Committee (FOMC) will raise the short-term Federal Funds rate this week. The CME group estimates the probability of a 25 basis-point increase at 90.2 percent. Some may fret about how this will impact the housing market, but they are missing the point on mortgage rates and affordability for first-time home buyers.

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Topics: Interest Rates, Federal Reserve, affordability, insider, mortgage rates

What’s Behind September’s Surprise Increase In Affordability?

By FirstAm Editor on November 27, 2017

First American’s proprietary Real House Price Index (RHPI) looks at September 2017 data and includes analysis from First American Chief Economist Mark Fleming on the market forces that sparked a surprising increase in affordability in September.

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Topics: Interest Rates, Homeownership, Real House Price Index, income, affordability

What's Keeping The Market Below Potential?

By Mark Fleming on November 20, 2017

First American’s proprietary Potential Home Sales model examines October 2017 data and includes analysis from First American Chief Economist Mark Fleming on how the real estate market is performing versus its potential.

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Topics: Interest Rates, Homeownership, Potential Home Sales, mortgage rates

Many Experts Miss The Point On Mortgage Rates And Affordability For First-Time Home Buyers

By Mark Fleming on November 6, 2017

Last week, the Federal Open Market Committee (FOMC) met for the second to last time this year. As most prognosticators expected, the FOMC decided to leave the short-term Federal Funds rate unchanged. While good news for those with credit card debt, car loans and adjustable rate mortgages, the impact of FOMC inaction, or action for that matter, is less clear for the mortgage market. Additionally, Jerome Powell was nominated to be the next Chairman of the Federal Reserve and he is widely believed to hold a similar stance on monetary policy as the current chair, Janet Yellen.

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Topics: Interest Rates, Federal Reserve, affordability, insider, mortgage rates

Will August Uptick In Affordability Continue?

By FirstAm Editor on October 30, 2017

First American’s proprietary Real House Price Index (RHPI) looks at August 2017 data and includes analysis from First American Chief Economist Mark Fleming on what’s behind the surprising increase in affordability in August and whether or not that trend will continue.

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Topics: Interest Rates, Homeownership, Real House Price Index, income, affordability

Hesitant Homeowners And Hurricanes Hit Housing Market

By Mark Fleming on October 20, 2017

First American’s proprietary Potential Home Sales model examines September 2017 data and includes analysis from First American Chief Economist Mark Fleming on how the real estate market is performing versus its potential.

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Topics: Interest Rates, Homeownership, Potential Home Sales, mortgage rates

Supply Squeeze Tightens Grip On Affordability In July

By FirstAm Editor on September 26, 2017

First American’s proprietary Real House Price Index (RHPI) looks at July 2017 data and includes analysis from First American Chief Economist Mark Fleming on the supply constraints impacting the housing market.

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Topics: Interest Rates, Homeownership, Real House Price Index, income, affordability