The market potential for existing-home sales in May fell 2 percent to 5.62 million at a seasonally adjusted annualized rate (SAAR), compared with last month, and is 10.5 percent lower than one year ago. Yet, the market potential for home sales remains ... Read More›
Two Trends Slowing Housing Market Normalization
The Reconomy Podcast™: Here’s How We Know That Housing Supply Is Still Low
In this episode of the REconomy Podcast™ from First American, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi walk through several measures of housing supply and what those housing supply measures tell us about the housing market.Read More›
How Aggressive Will The Fed Need To Be To Get Inflation Under Control?
The dual mandate of the Federal Reserve is to maintain stable inflation and full employment, and while the latter goal has mostly been achieved post-pandemic, the former remains far from target. One of the primary instruments of monetary policy the Fed... Read More›
The Reconomy Podcast™: Don’t Be Alarmed By The Increase In Arms
In this episode of the REconomy Podcast™ from First American, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi explain why the recent increase in adjustable-rate mortgages (ARMs) does not necessarily signal an impending housing bust.... Read More›
The Housing Market Is Slowing By Design, But Don't Expect A Bust
In March 2022, the Real House Price Index (RHPI) increased 32.5 percent year over year, which is the fastest growth in the more than 30-year history of the series. This rapid annual decline in affordability was driven by ... Read More›
The Reconomy Podcast™: Understanding The Neutral Rate Of Interest, Inflation And The Housing Market
In this episode of the REconomy Podcast™ from First American, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi explain why the neutral rate of interest is an important metric in Federal Reserve’s fight against inflation and what it m... Read More›