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›
Why Mortgage Rates Hold the Key to Improved Affordability in 2023
House Prices Declining Fastest in Overvalued Markets
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›
The REconomy Podcast™: Is the New-Home Market Over-Supplied?
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›
The REconomy Podcast™: What Will it Take for the Housing Market to Rebalance?
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›
What to Expect from the 2023 Housing Market
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›
The REconomy Podcast™: Lemons and the Economic Theory Behind Insurance
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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