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.

The REconomy Podcast™: The Dynamics Re-Shaping Commercial Real Estate - The Business of Space

By FirstAm Editor on July 13, 2023
In this episode of The REconomy Podcast™ from First American, Chief Economist Mark Fleming and Senior Commercial Real Estate Economist Xander Snyder discuss the commercial real estate market, explaining the dynamics that are fundamentally re-shaping the ‘business of space.’ Read More›

Housing Interest Rates Affordability REconomy

The REconomy Podcast™: Why it Matters That Millennials Have Closed the Homeownership Gap

By FirstAm Editor on June 29, 2023
In this episode of the REconomy Podcast™ from First American, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi discuss the history of homeownership in the U.S., the impact of homeownership on wealth creation, and current demographic-driven trends influencing homeownership and the housing market. Read More›

Housing Interest Rates Affordability REconomy

Why Higher Mortgage Rates Don't Always Lead to Declining House Prices

By Mark Fleming on June 26, 2023
In April, housing affordability improved relative to one month ago, as two of the three key drivers of the Real House Price Index (RHPI), income and mortgage rates boosted house-buying power by 2.3 percent. Median household incomes increased by 0.1 percent compared with March, while mortgage rates dipped by 0.2 percentage points. Nominal house ... Read More›

Interest Rates Real House Price Index Affordability

The REconomy Podcast™: Why Homebuilders Have an Advantage in Today’s Housing Market

By FirstAm Editor on June 15, 2023
In this episode of the REconomy Podcast™ from First American, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi discuss the differences between the existing-home market and the new-home market, explaining why homebuilders have an advantage as they sell their homes in today’s environment. Read More›

Housing Interest Rates Affordability REconomy

The REconomy Podcast™: Where is Housing Affordability for First-Time Home Buyers Headed?

By FirstAm Editor on June 1, 2023
In this episode of the REconomy Podcast™ from First American, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi discuss the economic forces influencing housing affordability trends and what that means for first-time home buyers with Economist Ksenia Potapov. Read More›

Housing Interest Rates Affordability REconomy

Seasonal Demand Drives Resurgent House Price Growth and Decline in Affordability

By Mark Fleming on May 31, 2023
In March, housing affordability declined, snapping a four-month streak of increasing affordability. The decline in March occurred as two of the three key drivers of the Real House Price Index (RHPI), nominal house prices and mortgage rates, moved higher, decreasing house-buying power by 2.7 percent and dragging affordability down relative to one ... Read More›

Interest Rates Real House Price Index Affordability