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.

Recent Posts by Mark Fleming

Mark Fleming is the chief economist for First American Financial Corporation and leads First American’s Decision Sciences team.

Affordability Declined For Third Month In A Row

By Mark Fleming on July 27, 2021

Housing affordability declined on a year-over-year basis for the third month in a row in May, following a two-year streak of rising affordability. The decline in May occurred even as two of the t... Read More›

Housing Supply Limiting Market Potential

By Mark Fleming on July 16, 2021

Housing market potential strengthened modestly in June, increasing 0.2 percent compared with May, according to our Potential Home Sales Model. Potential home sales are nearly 17 percent higher than the pandemic-driven de... Read More›

Interest Rates Homeownership Potential Home Sales

Is It A Good Time To Buy A Home?

By Mark Fleming on June 28, 2021

In today’s housing market, the power is very clearly in the hands of the seller. In April, First American Data & Analytics’ nominal house price index increased 16.2 percent year over year, the fastest pace since 2005... Read More›

Interest Rates Real House Price Index Affordability

Why Homebodies Versus Pandemic-fueled Demand Will Determine The Outlook For Housing Market Potential

By Mark Fleming on June 22, 2021

Housing market potential strengthened again last month, according to our Potential Home Sales Model, despite significant supply headwinds. In May, housing market potential increased 0.8 percent compared with April, and i... Read More›

Interest Rates Homeownership Potential Home Sales

Housing Inflation Is Not What You Think It Is

By Mark Fleming on June 9, 2021

One of the most closely watched indicators of inflation, the Consumer Price Index (CPI), jumped 4.2 percent year over year t... Read More›

Housing Interest Rates Real House Price Index

Why Housing Affordability Sank For The First Time In Over Two Years

By Mark Fleming on May 24, 2021

Housing affordability on a year-over-year basis declined in March for the first time since January 2019, ending a more than two-year streak of rising affordability. The long run of increasing affordability snapped, even ... Read More›

Interest Rates Real House Price Index Affordability