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.

Millennial Homeownership Delayed, But Not Denied

By Mark Fleming on July 1, 2020

As we navigate the unprecedented impact of COVID-19, home has taken on added significance and there are signs that homeownership remains one of the main tenants of the American Dream. After hitting a bottom in the second week of April, mortgage applications to purchase a home increased for nine consecutive weeks, even exceeding levels from a...

Read More

Topics: Housing Millennials Homeownership Progress Index Homeownership

Will Low Mortgage Rates Prevent Decline In Affordability This Summer?

By Mark Fleming on June 30, 2020

The economic fallout and impacts to the housing market from the pandemic appeared to peak in April. The number of existing-home sales fell 18 percent relative to March, housing starts fell 26 percent, and the supply of homes available for sale approached record lows. While historically low mortgage rates made it more affordable for those with...

Read More

Topics: Interest Rates Real House Price Index Affordability

How Mortgage Rates Have Fueled Housing Market Potential Amid The Pandemic

By Mark Fleming on June 18, 2020

The early signs of a housing market comeback that appeared in mid-April, rising weekly purchase loan applications, continued to surge through May and into June. In fact, weekly purchase loan applications have now exceeded pre-pandemic levels.

Read More

Topics: Interest Rates Potential Home Sales tenure

For Single Women, Homeownership Increasingly Comes First

By Odeta Kushi on June 11, 2020

As we enter National Homeownership Month, it’s important to reflect on the long-term trends in one of the main tenets of the American Dream. Following an overall decline in homeownership in the aftermath of the Great Recession to a low point of 63 percent in 2016, the homeownership rate has rebounded significantly to 65 percent in 2019....

Read More

Topics: Housing Homeownership

House Price Appreciation Poised To Accelerate As Pandemic Intensifies Housing Supply Shortage

By Odeta Kushi on June 2, 2020

In April, pandemic-related pressure drove the supply of homes for sale to its lowest April supply level ever. Even in the years prior to the pandemic, the lack of housing supply for sale was a significant headwind to the housing market. A major reason for the lack of homes for sale is increasing tenure – the length of time a homeowner lives in...

Read More

Topics: Housing tenure

Interview With Yahoo! Finance: Existing-Home Sales Poised For Rebound In May Following April Plunge

By FirstAm Editor on May 26, 2020

First American Chief Economist Mark Fleming was interviewed on Yahoo! Finance last week, explaining why the April existing-home sales numbers are likely the trough in this cycle and that signs point to a strong May rebound for the housing market.

Read More

Topics: Housing In The News Homeownership