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.

Return of the Housing Recession

By Mark Fleming on September 18, 2023
Our Potential Home Sales Model, which measures what a healthy market for home sales should be based on the economic, demographic and housing market environments, decreased by 0.2 percent in August, and remains 3.4 percent lower than one year ago. While it seems that the steep decline in sales driven by the rapid rise in mortgage rates is behind ... Read More›

Interest Rates Potential Home Sales tenure

CRE X-Factor – The End of the Beginning for the CRE Adjustment?

By Xander Snyder on September 15, 2023
With interest rates high, transaction volumes low, and property prices generally on the decline, it’s safe to say that the commercial real estate (CRE) market is undergoing an adjustment period. The market adjustment has triggered a process referred to as “price discovery,” in which many buyers are sitting on the sidelines waiting for lower entry ... Read More›

Commercial Real Estate CRE X-Factor

The REconomy Podcast™: Should You Rent or Buy a Home Right Now?

By FirstAm Editor on September 14, 2023
In this episode of The REconomy Podcast™ from First American, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi examine the timeless, yet extremely timely question – to be or not to be a homeowner? Read More›

Housing Interest Rates Affordability REconomy

Will the Mortgage Rate Spread Narrow or Not? That is the Question

By Odeta Kushi on September 12, 2023
In August, the 30-year, fixed mortgage rate hit the highest level since the early 2000s. Higher mortgage rates have a dual impact on the housing market – reducing affordability for potential buyers and strengthening the rate lock-in effect for sellers. The outlook for the U.S. housing market is therefore heavily dependent on the path of mortgage ... Read More›

Housing Interest Rates

Why Buy a Home Now if it’s Likely to Cost More in the Future?

By Ksenia Potapov on September 7, 2023
The millennial generation, those born between 1981 and 1996, have recently dominated the demand side of the housing market. However, Generation Z, those born between 1997 and 2012, is on the cusp of aging into their prime home-buying years. While potential first-time home buyers, mostly millennials and older Gen Zers, jumped on the historically ... Read More›

Homeownership Renter Affordability

Banks Continue to Report Tighter Lending Standards for CRE

By Xander Snyder on September 5, 2023
With interest rates well above recent lows and commercial property prices declining, commercial real estate (CRE) credit remains tight. How tight, exactly, is one of the questions that the Federal Reserve’s Senior Loan Officer Opinion Survey (SLOOS) attempts to answer. Read More›

Commercial Real Estate