Interview with Yahoo! Finance: Impact of COVID-19 on the Summer Housing Market
By
FirstAm Editor on July 30, 2020
First American Chief Economist Mark Fleming was interviewed on Yahoo! Finance earlier this month, discussing the impact of COVID-19 on the housing market and mortgage rates dropping below 3 percent for the first time ever.
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What the Historic Mortgage Rate Drop Means for Affordability
By
Mark Fleming on July 27, 2020
As the coronavirus pandemic continues to wreak havoc on global and domestic economies, housing has thus far proven resilient, managing a V-shaped recovery from the low point reached in April. The strong rebound is largely a result of two dynamics that existed before the pandemic and have continued or even gained strength in the last few months.
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Will Household Formation Continue to Boost Housing Market Potential Amid the Pandemic?
By
Mark Fleming on July 16, 2020
The domestic and global economy continue to feel the pain inflicted by the coronavirus pandemic. Yet the housing industry, at least for now, is bucking the trend. Weekly purchase applications have surpassed their levels from one year ago for eight straight weeks, as potential buyers respond to record low mortgage rates. The market potential for ...
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Pandemic Unlikely to Slow Looming Wave of Millennial Marriages and Corresponding Increase in Potential Homeownership Demand in the Long Run
By
Odeta Kushi on July 15, 2020
Millennials are already the most educated generational cohort in U.S. history, which bodes well for future homeownership demand. But they are also aging into key lifestyle decisions, like marriage and having children, associated with a greater likelihood of purchasing a home. According to our analysis of anonymized household data, millennials ...
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Rising Millennial Educational Attainment Signals Homeownership Demand Primed for Growth
By
Odeta Kushi on July 9, 2020
Examining critical lifestyle, societal and economic trends can provide a strong indication of the likelihood of owning a home and, in turn, potential homeownership demand. This is the fundamental concept behind our annual Homeownership Progress Index (HPRI). Understanding these forces and tracking how they change over time allows us to measure ...
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Millennial Homeownership Delayed, But Not Denied
By
Mark Fleming on July 1, 2020
As we navigate the unprecedented impact of COVID-19, home has taken on added significance and there are signs that homeownership remains one of the main tenets of the American Dream. After hitting a bottom in the second week of April, mortgage applications to purchase a home increased for nine consecutive weeks, even exceeding levels from a year ...
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