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.

Is Affordability Worse Than The 2006 Housing Boom Peak?

By Mark Fleming on March 29, 2022

In the first report with 2022 data, the Real House Price Index (RHPI) jumped up by nearly 27 percent, the fastest growth in the RHPI since 2004. This rapid... Read More›

Interest Rates Real House Price Index Affordability

What Is Driving Housing Market Potential As The Spring Home-buying Season Begins?

By Mark Fleming on March 18, 2022

Following nearly two years of a soaring housing market, the 2022 spring home-buying season will be watched closely for signs that more balance may be returning to the housing market. Our Potential Home Sales Model estimates the expected level of existi... Read More›

Interest Rates Potential Home Sales tenure

Will Rising Rates Bring Balance To The Housing Market?

By Mark Fleming on February 23, 2022

In December 2021, the Real House Price Index (RHPI) increased 21.7 percent compared wit... Read More›

Interest Rates Real House Price Index Affordability

Opposing Supply-demand Forces Hold Key To Housing Market Potential

By Mark Fleming on February 22, 2022

While still 4 percent higher than one year ago, the market potential for existing-home sales declined to its lowest level since June 2021, according to the first Potential Home Sales Model report of 2022. Demand for homes wil... Read More›

Interest Rates Potential Home Sales tenure

How Will Rising Mortgage Rates Impact Spring Home-buying?

By Mark Fleming on January 24, 2022

In November, year-over-year nominal house price appreciation reached 21.5 percent, the sixth consecutive month it has set a new record. According to our Read More›

Interest Rates Real House Price Index Affordability

Millennials Remain Driving Force In Housing Market Potential

By Mark Fleming on January 19, 2022

The final Potential Home Sales Model report of 2021 revealed that market potential ended the year on a strong note. While the winter months are traditionally real estate’s slow season, our measure of the market potential for ... Read More›

Interest Rates Potential Home Sales tenure