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.

The Reconomy Podcast™: The State Of Housing Affordability For Potential First-time Home Buyers

By FirstAm Editor on August 25, 2022

In this episode of the REconomy Podcast™ from First American, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi discuss how housing affordability has shifted since the early spring and what that means for potential first-time home buy... Read More›

Housing Interest Rates Affordability REconomy

Is This The Great Normalization Of The Housing Market?

By Mark Fleming on August 17, 2022

According to our Potential Home Sales Model, the market potential for existing-home sales in July was estimated to be 5.45 million at a seasonally adjusted annualized rate (SAAR), down 0.2 percent compared with last month, and 14.4 percent lower than o... Read More›

Interest Rates Potential Home Sales tenure

The Reconomy Podcast™: What Is A Recession And How Do We Know When One Begins?

By FirstAm Editor on August 11, 2022

In this episode of the REconomy Podcast™ from First American, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi discuss how recessions are measured, the broader economic outlook, and implications for the housing market.

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Housing Interest Rates Affordability REconomy

Where Potential First-time Home Buyers Can Find Relief From The Affordability Shock

By Ksenia Potapov on August 10, 2022

Following two years of red-hot activity accelerated by pandemic-era dynamics, the housing market is cooling as demand falls in response to a significant decline in affordability. Double-digit house-price appreciation chipped away at affordability as th... Read More›

Homeownership First-Time Home Buyer Outlook Report Renter Affordability

The Reconomy Podcast™: Breaking Down The Federal Reserve’s Efforts To Control Inflation

By FirstAm Editor on July 29, 2022

In this episode of the REconomy Podcast™ from First American, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi discuss the components driving the Consumer Price Index and the Federal Reserve’s efforts to bring inflation under control... Read More›

Housing Interest Rates Affordability REconomy

Will Rising Mortgage Rates Trigger An 'arms' Race For Home Buyers?

By Mark Fleming on July 22, 2022

In May 2022, the Real House Price Index (RHPI) jumped up by 50.8 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 a 20.... Read More›

Interest Rates Real House Price Index Affordability