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 Mortgage Rates Hold the Key to Improved Affordability in 2023

By Ksenia Potapov on February 3, 2023

By all respects, 2022 was a tumultuous year for the housing market. Annual house price appreciation remained at a double-digit pace for most of the year, mortgage rates increased by nearly 4 percentage points in less than 12 months and, as a result, af... Read More›

Interest Rates Real House Price Index Affordability

House Prices Declining Fastest in Overvalued Markets

By Mark Fleming on January 31, 2023

In November 2022, the Real House Price Index (RHPI) increased by 60 percent on an annual basis. This rapid annual decline in affordability was driven by two factors -- a 7.6 percent annual increase in nominal house prices and a... Read More›

Interest Rates Real House Price Index Affordability

The REconomy Podcast™: Is the New-Home Market Over-Supplied?

By FirstAm Editor on January 26, 2023

In this episode of the REconomy Podcast™ from First American, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi explain why new homes are making up a growing share of the overall supply of available homes for sale in the U.S. and what... Read More›

Housing Interest Rates Affordability REconomy

The REconomy Podcast™: What Will it Take for the Housing Market to Rebalance?

By FirstAm Editor on January 12, 2023

In this episode of the REconomy Podcast™ from First American, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi examine house price trends, mortgage rate fluctuations and housing supply levels for insight into what it may take for the... Read More›

Housing Interest Rates Affordability REconomy

What to Expect from the 2023 Housing Market

By Odeta Kushi on January 10, 2023

Since the beginning of the pandemic, the housing market has experienced a series of highs and lows. The housing market was already strong prior to 2020, but the pandemic redefined the role of a home, creating a surge in demand which, coupled with recor... Read More›

Interest Rates Affordability

The REconomy Podcast™: Lemons and the Economic Theory Behind Insurance

By FirstAm Editor on December 29, 2022

In this episode of the REconomy Podcast™ from First American, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi explain the connection between lemons and the economic theory behind insurance.

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Housing Interest Rates Affordability REconomy