Economic Center Blog
Welcome to the First American Economic Center Blog, a top source for the latest housing market research and analysis driven by Chief Economist Mark Fleming.

Rising Rates Unlikely To Substantially Cool Hot Spring Home-Buying Season

By Mark Fleming on April 16, 2021

After hitting its highest point since 2007 last month, housing market potential fell modestly in March, according to our Potential Home Sales Model. Housing market potential remains near the 13-year high point, but the severely limited supply of homes for sale and an uptick in mortgage rates pulled market potential for existing-home sales off...

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Topics: Interest Rates Homeownership Potential Home Sales

REconomy Podcast: What Drives The Decision To Become A Homeowner?

By FirstAm Editor on April 15, 2021

In this episode of the REconomy podcast from First American, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi explain how the vast majority of potential home buyers reach the decision to buy a home and what that means for the housing market and homeownership rate moving forward.

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Topics: Housing Affordability REconomy

Top Five Cities For Lower-Income Renters To Pursue The Dream Of Homeownership

By Odeta Kushi on April 14, 2021

In the fourth quarter of 2020, the median renter experienced a 10 percent boost to their house-buying power relative to one year ago, but the share of homes they could afford to buy declined by 4 percentage points due to rising house prices, according to the First-Time Home Buyer Outlook Report. However, while we recently examined affordability...

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Topics: Homeownership First-Time Home Buyer Outlook Report Renter Affordability

Interview With CNBC: How Rising Rates May Impact Housing Affordability As Spring Home-Buying Season Ramps Up

By FirstAm Editor on April 8, 2021

First American Deputy Chief Economist Odeta Kushi was interviewed on CNBC yesterday, discussing the outlook for housing affordability amid rising mortgage rates and expectations for the spring home-buying season.

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Topics: Housing In The News Interest Rates Affordability

REconomy Podcast: Why Housing Affordability Should Be Viewed Through The Lens Of Renters And Supply

By FirstAm Editor on April 1, 2021

In this episode of the REconomy podcast from First American, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi explain why the key to measuring housing affordability is to determine whether a renter can afford to purchase a home, or more precisely how many homes they can afford to buy, if any.

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Topics: Housing Affordability REconomy

Why Affordability Improved Amid Soaring House Prices

By Mark Fleming on March 31, 2021

Soaring nominal house prices dominate recent headlines and for good reason. It is true that nominal house prices are the highest they have ever been, over 22 percent higher than the housing boom peak in 2006, according to the First American Data & Analytics House Price Index. The acceleration in the pace of annual house price growth began in...

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Topics: Interest Rates Real House Price Index Affordability