With the upcoming Federal Open Market Committee (FOMC) meeting this week, many are wondering if an interest rate hike is in the works. According to the CME FedWatch Tool, the current market expectation of a 0.50 percent rate increase in June is extremely low – 4 percent. However, the likelihood jumps to 27 percent in July. But, whether the Fed ... Read More ›

Earlier this month, I had the opportunity to appear on the Lykken on Lending Blog Talk radio show. On the broadcast, we discussed the National Association of Realtors (NAR) existing-home sales numbers that are released monthly. As you may be aware from my recent comments here and here, I believe that existing home sales have been underperforming ... Read More ›

For the month of April, First American’s proprietary Potential Home Sales model showed that the market for existing-home sales is underperforming its potential by 4.1 percent or an estimated 232,000 seasonally adjusted, annualized rate (SAAR) of sales, an improvement over the last month’s revised performance gap of -7.6 percent or 418,000 (SAAR) ... Read More ›

We typically, actually almost exclusively, focus on residential real estate in the Economics Center. But, today it’s time to broaden our horizons. Focusing on residential real estate misses all the shops, restaurants, warehouses, hospitals and offices like the one I am sitting in right now writing this. In short, focusing on residential real ... Read More ›

For the month of March, First American’s proprietary Potential Home Sales model showed that the market for existing-home sales is underperforming its potential by 11.5 percent or an estimated 664,000 seasonally adjusted, annualized rate (SAAR) of sales. The Potential Home Sales model provides a gauge on whether existing-home sales are under or ... Read More ›

For the month of February, First American’s proprietary Potential Home Sales model showed that the market potential for existing-home sales grew by 1.0 percent compared with January and increased by 3.6 percent compared with a year ago. The Potential Home Sales model provides a gauge on whether existing-home sales are under or over their long-run ... Read More ›