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.

The Housing Market Is Slowing By Design, But Don't Expect A Bust

By Mark Fleming on May 27, 2022

In March 2022, the Real House Price Index (RHPI) increased 32.5 percent year over year, which is the fastest growth in the more than 30-year history of the series. This rapid annual decline in affordability was driven by ... Read More›

Interest Rates Real House Price Index Affordability

The Reconomy Podcast™: Understanding The Neutral Rate Of Interest, Inflation And The Housing Market

By FirstAm Editor on May 19, 2022

In this episode of the REconomy Podcast™ from First American, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi explain why the neutral rate of interest is an important metric in Federal Reserve’s fight against inflation and what it m... Read More›

Housing Interest Rates Affordability REconomy

Will Higher Mortgage Rates Bring Normalcy To The Housing Market?

By Mark Fleming on May 18, 2022

The market potential for existing-home sales in April declined 3 percent compared with last month, falling to 5.74 million at a seasonally adjusted annualized rate (SAAR). Housing market potential is down 8.1 percent, compared with the roaring housing ... Read More›

Interest Rates Potential Home Sales tenure

The Reconomy Podcast™: Breaking Down The Recency Bias In Housing Market Data

By FirstAm Editor on May 5, 2022

In this episode of the REconomy Podcast™ from First American, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi discuss how recency bias is fueling some angst over trends in housing market data and explain why today’s housing market l... Read More›

Housing Interest Rates Affordability REconomy

How Do Rapidly Rising Mortgage Rates Impact Affordability?

By Mark Fleming on April 22, 2022

In February 2022, the Real House Price Index (RHPI) jumped up by nearly 31 percent. That’s the fastest growth in the more than 30-year history of the series. This rapid annual decline in affordability was driven by two fa... Read More›

Interest Rates Real House Price Index Affordability

The Reconomy Podcast™: Housing Bubble Or No Housing Bubble?

By FirstAm Editor on April 21, 2022

In this episode of the REconomy Podcast™ from First American, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi examine the health of the housing market and address the question, ‘housing bubble or no housing bubble?'

Read More›

Housing Interest Rates Affordability REconomy