In our most recent Potential Home Sales Model analysis, we noted that the housing market’s potential improved in April because falling mortgage rates and rising household income combined to increase consumer house-buying power more than enough than to offset house price appreciation. In other words, house-buying power won the tug of war with house ... Read More ›

First American Chief Economist Mark Fleming was interviewed on Yahoo! Finance and Deputy Chief Economist Odeta Kushi on Nightly Business Report earlier this week and discussed the existing-home sales data for April, the housing supply squeeze and the market forces helping affordability. Read More ›

First American Chief Economist Mark Fleming was interviewed on FOXBusiness and CNBC on Tuesday and discussed the outlook for the housing market and broader economy as well as the impact of tax law changes on housing. Read More ›

Enacted in 2017, the Tax Cuts and Jobs Act reduced tax breaks for homeowners. At the time, many in the real estate industry expected the changes to negatively impact the housing market, particularly in high-priced neighborhoods. The industry concern primarily focused on two specific changes included in the bill: the mortgage interest deduction was ... Read More ›

We’ve published the findings from a new study that provides an in-depth look at the trends shaping affordability, specifically for first-time home buyers, titled “Why Everything You Know About First-Time Home Buyer Affordability is Wrong.” The study, developed by First American Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi, ... Read More ›

Throughout 2018, consistent growth among three driving forces – mortgage rates, household income and unadjusted house prices – defined the housing market. These three factors are also the core elements of the Real House Price Index (RHPI). While household income rose steadily in 2018, rising mortgage rates offset any affordability benefit for home ... Read More ›