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.

Top 10 Cities With The Largest Supply Of Affordable Homes For First-Time Home Buyers

By Odeta Kushi on June 13, 2019

Faced with often misleading affordability metrics and seemingly challenging housing market dynamics, many renters may underestimate their house-buying power and the supply of homes in their market that they can afford. Potential first-time home buyers can benefit from a more targeted examination of affordability, which begins by accurately...

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Topics: Affordability, First-Time Home Buyer Outlook Report

Expect The Unexpected -- Faster House Price Appreciation

By Mark Fleming on June 6, 2019

In our most recent Potential Home Sales Model analysis, we noted that the housing market’s potential improved in April because falling mortgage rates and rising household income combined to increase consumer house-buying power more than enough than to offset house price appreciation. In other words, house-buying power won the tug of war with...

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Topics: Real House Price Index, Affordability

How Lower Mortgage Rates Helped Reduce Defect Risk For The First Time In Eight Months

By Mark Fleming on May 31, 2019

The frequency of defects, fraudulence and misrepresentation in the information submitted in mortgage loan applications declined 4.2 percent compared to last month. Notably, this marks the first month-over-month decline since July 2018, thanks to lower mortgage rates. Decreasing mortgage rates contributed to an increase in inventory, reducing...

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Topics: Fraud, Loan Application Defect Index

Why Did Affordability Improve For The First Time Since 2016?

By Mark Fleming on May 28, 2019

What began as a modest shift toward a buyers’ market in six cities last month has expanded into a national shift in affordability. The shift is a departure from the long-term trend in the Real House Price Index (RHPI), which had been steadily increasing throughout the rising mortgage rate environment that began in 2017 and continued until late...

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Topics: Real House Price Index

Interviews On Yahoo! Finance And Nightly Business Report: Discussing Existing-home Sales, The Housing Supply Squeeze And The Market Forces Helping Affordability

By FirstAm Editor on May 24, 2019

First American Chief Economist Mark Fleming was interviewed on Yahoo! Finance and Deputy Chief Economist Odeta Kushi on Nightly Business Report earlier this week and discussed the existing-home sales data for April, the housing supply squeeze and the market forces helping affordability.

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Topics: Housing, In The News, Interest Rates, Affordability

Interviews On FOXBusiness And CNBC: Discussing The Outlook For The Housing Market And Economy And The Impact Of Tax Law Changes

By FirstAm Editor on May 22, 2019

First American Chief Economist Mark Fleming was interviewed on FOXBusiness and CNBC on Tuesday and discussed the outlook for the housing market and broader economy as well as the impact of tax law changes on housing.

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Topics: Housing, In The News, Interest Rates, Affordability

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