Will Low Mortgage Rates Prevent Decline in Affordability this Summer?
By
Mark Fleming on June 30, 2020
The economic fallout and impacts to the housing market from the pandemic appeared to peak in April. The number of existing-home sales fell 18 percent relative to March, housing starts fell 26 percent, and the supply of homes available for sale approached record lows. While historically low mortgage rates made it more affordable for those with ...
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How Mortgage Rates Have Fueled Housing Market Potential Amid the Pandemic
By
Mark Fleming on June 18, 2020
The early signs of a housing market comeback that appeared in mid-April, rising weekly purchase loan applications, continued to surge through May and into June. In fact, weekly purchase loan applications have now exceeded pre-pandemic levels.
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For Single Women, Homeownership Increasingly Comes First
By
Odeta Kushi on June 11, 2020
As we enter National Homeownership Month, it’s important to reflect on the long-term trends in one of the main tenets of the American Dream. Following an overall decline in homeownership in the aftermath of the Great Recession to a low point of 63 percent in 2016, the homeownership rate has rebounded significantly to 65 percent in 2019. ...
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House Price Appreciation Poised to Accelerate as Pandemic Intensifies Housing Supply Shortage
By
Odeta Kushi on June 2, 2020
In April, pandemic-related pressure drove the supply of homes for sale to its lowest April supply level ever. Even in the years prior to the pandemic, the lack of housing supply for sale was a significant headwind to the housing market. A major reason for the lack of homes for sale is increasing tenure – the length of time a homeowner lives in ...
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Interview with Yahoo! Finance: Existing-Home Sales Poised for Rebound in May Following April Plunge
By
FirstAm Editor on May 26, 2020
First American Chief Economist Mark Fleming was interviewed on Yahoo! Finance last week, explaining why the April existing-home sales numbers are likely the trough in this cycle and that signs point to a strong May rebound for the housing market.
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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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