In September 2019, the housing market performed to its potential, as actual existing-home sales were a marginal 0.04 percent, or an estimated 2,340 seasonally adjusted annualized sales, below market potential. Housing market potential decreased relative to last month, but increased 3.8 percent compared with September of last year. Indeed, in ...
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Important, but easy to overlook shifts in investment trends may be contributing to our current era of low interest rates. An excess supply of global savings relative to the demand for that money for investments is driving down interest rates, which can be thought of as the price of money. The neutral rate of interest, which is monitored by the ...
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Declining for the fifth consecutive month, the Loan Application Defect Index for purchase transactions continued its downward trend, falling 3.8 percent in August compared with July. The Defect Index for refinance transactions also fell, declining 4.3 percent compared with the previous month. The overall Defect Index, which includes both purchase ...
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First American Deputy Chief Economist Odeta Kushi was interviewed on Nightly Business Report last week and discussed the dramatic jump in housing starts to a 12-year high, signaling the potential for some housing supply relief in the near future.
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School bells ringing don’t just mark the beginning of a new school year, but for those in housing, they also signal the end of the typical home-buying season, which begins in March. As the school year begins, the housing market is finishing the spring home-buying season with strong marks for affordability. Indeed, two of the three key drivers of ...
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The housing market exceeded its potential in August 2019, as actual existing-home sales were 0.8 percent above the market’s potential. Housing market potential increased relative to last month, but declined 1.9 percent compared with August of last year. While down compared with a year ago, existing-home sales have slightly outperformed market ...
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