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.

Blame The Homebodies: Why Are Homeowners Staying In Their Homes So Long?

By Mark Fleming on January 11, 2019

It’s been over six years since house prices hit their trough and the housing market bottomed out. Since then, house prices have recovered nationally and reached historic highs. The price recovery has most recently been driven by a supply shortage. The availability of homes for sale is running near historic lows because single-family housing...

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Topics: homeownership, Housing, Potential Home Sales, Insider

Will Millennials Migrate Away From Coastal Markets For Homeownership In 2019?

By Odeta Kushi on January 7, 2019

As we enter 2019 and the bulk of the millennial generation ages into their prime home-buying years, is homeownership an attainable New Year’s resolution for millennials?

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Topics: Millennials, homeownership, Homeownership Progress Index, Education, Insider

Will Homebuilders Deliver The Gift Of More Housing Supply This Year?

By Mark Fleming on December 19, 2018

Yesterday, the Census Bureau released its Residential Construction report for November. Housing completions decreased 3.9 percent compared with last November and continue to fall short of the number of new housing units necessary to keep pace with household formation. Housing starts also decreased 3.6 percent in November compared with a year...

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Topics: Housing, homeownership, housing starts, Insider

What Do Previous Rising Mortgage Rate Eras Tell Us About Today's Housing Market?

By Mark Fleming on December 17, 2018

In November, the housing market underperformed its potential by 7.4 percent, marking 40 straight months the market remained below its potential, according to our Potential Homes Sales Model. Month over month, the gap between actual existing-home sales and the market potential for home sales narrowed by 1.2 percent, but the housing market still...

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

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

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