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.

Why Housing Overvaluation Is Not As Prevalent As Many Believe

By Mark Fleming on May 22, 2020

In March, data began to reveal the depth of the impact from the pandemic on the housing market. The number of existing-home sales fell 8.5 percent relative to February, and the number of new listings continued to dwindle. While historically low mortgage rates make it more affordable for those with stable incomes to buy a home, tightening credit...

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Topics: Interest Rates Real House Price Index Affordability

Why The Pandemic Has Worsened The Housing Supply Shortage

By Mark Fleming on May 20, 2020

The coronavirus pandemic continued its historic assault on the domestic and global economy in April, and the housing market did not go unscathed. Typically, the hot spring home-buying season would be in full swing in April, but pandemic-related impacts, including shelter-in-place orders, the rapid surge in unemployment, and declining consumer...

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Topics: Interest Rates Potential Home Sales tenure

What A Service Sector-Driven Recession Means For Homeownership Demand

By Odeta Kushi on May 14, 2020

The shutdown of large discretionary consumption segments of the U.S. economy, with the intent to slow and prevent the spread of COVID-19, has triggered one of the fastest contractions in U.S. economic activity ever observed. As a result, millions of Americans have filed for jobless benefits and the unemployment rate rose to 14.7 percent in...

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Topics: Housing Homeownership

Why The Labor Market May Recover Faster Than Previous Recessions

By Odeta Kushi on May 6, 2020

The coronavirus pandemic continues to significantly impact the domestic and global economy. Weekly unemployment claims in April have broken records and consumer confidence has declined with the worsening economic conditions. More than 18 percent of the labor force has claimed unemployment in the past six weeks. Less than two months ago, the...

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Topics: Income Jobs Report

Interview With Gary Acosta, NAHREP: Why The Housing Market May Be Better Positioned Than Many Believe Amid The Pandemic

By FirstAm Editor on April 29, 2020

First American Chief Economist Mark Fleming was interviewed by Gary Acosta, co-founder and CEO of the National Association of Hispanic Real Estate Professionals, last week and discussed his perspective on the state of the housing market amid the pandemic and why the housing market may be better positioned than many believe.

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Topics: Housing In The News

Has House Price Appreciation Reached A Tipping Point?

By Mark Fleming on April 27, 2020

As the coronavirus outbreak continues to affect the domestic and global economy, the housing market has shown that it is not immune to its impact. In March, the number of existing-home sales fell 8.5 percent relative to February, and the number of new listings continued to dwindle. While mortgage rates have fallen due to the current economic...

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Topics: Interest Rates Real House Price Index Affordability