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 Rising House Prices Could Impact Down Payment Size

By Odeta Kushi on September 17, 2020

After hitting a low point in the spring, the housing market has rebounded strongly during the pandemic. Historically low mortgage rates have fueled demand and increased home buyers’ purchasing power amid an ongoing housing supply shortage. The widening imbalance between housing supply and demand has pushed house prices higher. Some now fear...

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Topics: Affordability Homeownership

The Silver Lining For Cities With The Most Homeowner Distress

By Odeta Kushi on September 3, 2020

Based on our analysis last month, a wave of foreclosures similar to levels seen during the Great Recession is unlikely to occur despite the continuing economic hardship caused by the COVID-19 pandemic. Homeowners are in a much better position to weather this crisis, in part because household equity is near a three-decade high, negating one of...

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Topics: Affordable housing Homeownership

Pandemic Unlikely To Slow Looming Wave Of Millennial Marriages And Corresponding Increase In Potential Homeownership Demand In The Long Run

By Odeta Kushi on July 15, 2020

Millennials are already the most educated generational cohort in U.S. history, which bodes well for future homeownership demand. But they are also aging into key lifestyle decisions, like marriage and having children, associated with a greater likelihood of purchasing a home. According to our analysis of anonymized household data, millennials...

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Topics: Affordable housing Millennials Homeownership Progress Index Homeownership

Rising Millennial Educational Attainment Signals Homeownership Demand Primed For Growth

By Odeta Kushi on July 9, 2020

Examining critical lifestyle, societal and economic trends can provide a strong indication of the likelihood of owning a home and, in turn, potential homeownership demand. This is the fundamental concept behind our annual Homeownership Progress Index (HPRI). Understanding these forces and tracking how they change over time allows us to measure...

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Topics: Housing Millennials Education Homeownership Progress Index Homeownership

Millennial Homeownership Delayed, But Not Denied

By Mark Fleming on July 1, 2020

As we navigate the unprecedented impact of COVID-19, home has taken on added significance and there are signs that homeownership remains one of the main tenets of the American Dream. After hitting a bottom in the second week of April, mortgage applications to purchase a home increased for nine consecutive weeks, even exceeding levels from a...

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Topics: Housing Millennials Homeownership Progress Index Homeownership

For Single Women, Homeownership Increasingly Comes First

By Odeta Kushi on June 11, 2020

As we enter National Homeownership Month, it’s important to reflect on the long-term trends in one of the main tenets of the American Dream. Following an overall decline in homeownership in the aftermath of the Great Recession to a low point of 63 percent in 2016, the homeownership rate has rebounded significantly to 65 percent in 2019....

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Topics: Housing Homeownership