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.

Mark Fleming

Recent Posts

Why Did Housing Market Potential Improve In April?

By Mark Fleming on May 20, 2019

The housing market continued to underperform its potential in April 2019, but the performance gap shrank compared with March. Actual existing-home sales remain 1.3 percent below the market’s potential, but the performance gap narrowed from 2.0 percent last month, according to our Potential Home Sales model. That means the housing market has the...

Read More ›

Topics: Interest Rates, Federal Reserve, homeownership, Potential Home Sales

The Two Competing Forces Impacting Fraud Risk

By Mark Fleming on April 30, 2019

Loan application defect risk for purchase transactions continued its upward trend in March, increasing 1.0 percent month-over-month, according to the Loan Application Defect Index. Defect risk for purchase transactions has risen for seven consecutive months, however, the pace of growth slowed to its lowest point over that time span. Overall,...

Read More ›

Topics: Fraud, Loan Application Defect Index

Six Cities Leading Shift Toward A Buyers' Market

By Mark Fleming on April 29, 2019

Throughout 2018, consistent growth among three driving forces – mortgage rates, household income and unadjusted house prices – defined the housing market. These three factors are also the core elements of the Real House Price Index (RHPI). While household income rose steadily in 2018, rising mortgage rates offset any affordability benefit for...

Read More ›

Topics: Interest Rates, Real House Price Index, Affordability, Insider

Two Trends Boost Home-Buyer Demand As Spring Home-Buying Season Begins

By Mark Fleming on April 18, 2019

While the housing market continued to underperform its potential in March 2019, the green shoots of spring home buying have emerged. Actual existing-home sales are 2.3 percent below the market’s potential, narrowing the gap from last month, according to our Potential Home Sales model. That means the housing market has the potential to support...

Read More ›

Topics: Interest Rates, Federal Reserve, homeownership, Potential Home Sales

Why The Yield Curve May Have Fooled Some Experts

By Mark Fleming on April 5, 2019

April Fools’ may be over, but that hasn’t dampened recession fears from generating headlines. Broadly speaking, the U.S. economy is performing well. Wages are increasing and we’re near full employment. So, why are some experts raising recession concerns?

Read More ›

Topics: Interest Rates, Federal Reserve

What Drives Increases In Income-Related Loan Application Defects?

By Mark Fleming on March 29, 2019

Throughout much of 2018, home prices were high, demand was rising and bidding wars were the new normal. As a result of the competitive market, buyers were under more pressure to seek qualification for larger loans. Fraud can come in many forms, but income falsification remains one of the most likely misrepresentations. By December 2018,...

Read More ›

Topics: Fraud, Loan Application Defect Index

Get the latest news

{{ module.title }}