Is it a Good Time to Buy a Home?

By Mark Fleming on June 28, 2021
In today’s housing market, the power is very clearly in the hands of the seller. In April, First American Data & Analytics’ nominal house price index increased 16.2 percent year over year, the fastest pace since 2005. Rapid appreciation is driving declines in affordability, despite rising incomes and lower mortgage rates. Nationally, according ... Read More

Interest Rates Real House Price Index Affordability

Why Housing Affordability Sank for the First Time in Over Two Years

By Mark Fleming on May 24, 2021
Housing affordability on a year-over-year basis declined in March for the first time since January 2019, ending a more than two-year streak of rising affordability. The long run of increasing affordability snapped, even as two of the three key drivers of the Real House Price Index (RHPI), household income and mortgage rates, swung in favor of ... Read More

Interest Rates Real House Price Index Affordability

Will Rising Equity Levels Mean More Homeowners Will List Their Homes for Sale?

By Mark Fleming on April 27, 2021
The three components of the Real House Price Index (RHPI) are household income, mortgage rates and a nominal house price index. The RHPI adjusts nominal house prices according to changes in income and interest rates, which together make up consumer house-buying power. When incomes rise, house-buying power rises as well. However, when mortgage ... Read More

Interest Rates Real House Price Index Affordability

Interview with CNBC: How Rising Rates May Impact Housing Affordability As Spring Home-Buying Season Ramps Up

By FirstAm Editor on April 8, 2021
First American Deputy Chief Economist Odeta Kushi was interviewed on CNBC yesterday, discussing the outlook for housing affordability amid rising mortgage rates and expectations for the spring home-buying season. Read More

Housing In The News Interest Rates Affordability

Why Affordability Improved Amid Soaring House Prices

By Mark Fleming on March 31, 2021
Soaring nominal house prices dominate recent headlines and for good reason. It is true that nominal house prices are the highest they have ever been, over 22 percent higher than the housing boom peak in 2006, according to the First American Data & Analytics House Price Index. The acceleration in the pace of annual house price growth began in ... Read More

Interest Rates Real House Price Index Affordability

Interview with Yahoo! Finance: “Single Women are Clearly Embracing Wealth Creation Through Home Buying”

By FirstAm Editor on March 8, 2021
First American Deputy Chief Economist Odeta Kushi was interviewed on Yahoo! Finance earlier this month, explaining why women homeownership rates are on the rise and the outlook for the housing market in the year ahead. Read More

Housing In The News Interest Rates Affordability Homeownership