Nominal house prices have been increasing nationally in the US for several years, and some markets have seen significant appreciation in nominal house prices. But, nominal house prices are not adjusted for any inflation. The price of a house today is not directly comparable to the price of that same house 30 years ago because of the long-run ... Read More ›

For the month of April, First American’s proprietary Potential Home Sales model showed that the market for existing-home sales is underperforming its potential by 4.1 percent or an estimated 232,000 seasonally adjusted, annualized rate (SAAR) of sales, an improvement over the last month’s revised performance gap of -7.6 percent or 418,000 (SAAR) ... Read More ›

First American Chief Economist Mark Fleming is quoted in an article in U.S. News & World Report examining why we’re not headed for another housing crisis. Read More ›

We typically, actually almost exclusively, focus on residential real estate in the Economics Center. But, today it’s time to broaden our horizons. Focusing on residential real estate misses all the shops, restaurants, warehouses, hospitals and offices like the one I am sitting in right now writing this. In short, focusing on residential real ... Read More ›

We’ve posted the annual First American Homeownership Progress Index (HPRI), which measures the level of homeownership and the underlying demographic and economic factors that influence the probability of homeownership over time and geography based on IPUMS Census Data. The HPRI declined 1.8 percent year-over-year, and is down 7.6 percent from the ... Read More ›

We’ve posted the March First American Loan Application Defect Index, which estimates the frequency of defects, fraudulence and misrepresentation in the information submitted in mortgage loan applications. The Defect Index increased 1.3 percent in March as compared with February and decreased by 2.6 percent as compared with March 2015. The Defect ... Read More ›