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.

How "Renter" Millennials Will Transform The Housing Market

By Odeta Kushi on December 10, 2018

Millennial demand for homeownership was one of the biggest trends influencing the housing market in 2018. Households under 35 years old contributed the most to overall homeownership growth in the third quarter of 2018, with millennial homeownership rising 1.2 percentage points from last year. This trend shows no indication of reversing in 2019....

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Topics: Millennials, homeownership, Homeownership Progress Index, Insider

Can Homebuilders Increase Productivity To Help Close Gap Between Housing Supply And Demand?

By Mark Fleming on November 21, 2018

Yesterday’s Census Bureau report for October indicated that we are falling short of adding homes to the market in the short-term, as completions decreased 6.5 percent compared with October of last year.

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Topics: Housing, housing starts, homeownership, Insider

Do Rising Rates Outweigh The Impact Of The Strong Economy On Housing Market Potential?

By Mark Fleming on November 19, 2018

While the housing market continues to underperform its potential by 6.5 percent, the gap between actual existing home sales and the market potential for home sales narrowed by 1 percent in October compared with September, according to our Potential Homes Sales model. The housing market has the potential to support more than 391,000 additional...

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Topics: Potential Home Sales, Interest Rates, homeownership, Federal Reserve, Insider

What Recent Hurricanes Mean For Future Housing Supply?

By Mark Fleming on October 19, 2018

Wednesday’s Census Bureau report on new residential construction data for September sends a mixed message to the housing market. Current home buyers received a lift as completions jumped 7.0 percent compared to September of last year, which is additional new net supply added to the housing stock. The continued year-over-year growth in...

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Topics: housing starts, Housing, homeownership, Insider

Why Homeowners Staying In Their Homes Dampens The Housing Market

By Mark Fleming on October 18, 2018

While the housing market continues to underperform its potential by 7.2 percent, the gap between actual existing home sales and the market potential for home sales narrowed by 1 percent in September compared with August, according to our Potential Homes Sales model. However, even though the performance gap narrowed a bit, the housing market...

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Topics: Interest Rates, homeownership, Federal Reserve, Insider

How Hurricane Florence May Impact The Housing Market

By Mark Fleming on September 20, 2018

Yesterday’s Census Bureau report for August is an indication of strength for the housing market. While the number of permits issued, which can signal how much construction is in the pipeline, decreased by 5.5 percent, home building rose in August as housing starts increased 9.4 percent compared with a year ago. The growth in housing starts is...

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Topics: housing starts, Housing, homeownership, Insider

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