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.

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 tenants 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

Interview With Yahoo! Finance: Existing-Home Sales Poised For Rebound In May Following April Plunge

By FirstAm Editor on May 26, 2020

First American Chief Economist Mark Fleming was interviewed on Yahoo! Finance last week, explaining why the April existing-home sales numbers are likely the trough in this cycle and that signs point to a strong May rebound for the housing market.

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Topics: Housing In The News Homeownership

What A Service Sector-Driven Recession Means For Homeownership Demand

By Odeta Kushi on May 14, 2020

The shutdown of large discretionary consumption segments of the U.S. economy, with the intent to slow and prevent the spread of COVID-19, has triggered one of the fastest contractions in U.S. economic activity ever observed. As a result, millions of Americans have filed for jobless benefits and the unemployment rate rose to 14.7 percent in...

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Topics: Housing Homeownership

Where Is It Cheaper To Own A Home Than To Rent?

By Odeta Kushi on April 10, 2020

As the coronavirus pandemic and its repercussions create challenges for all, it’s easy and important to focus on the day-to-day headlines and the information driving the news cycle at the moment. But, understanding long-term trends, even those that may be altered by the pandemic’s impacts, provides helpful insight into major decisions, like the...

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Topics: Affordability Homeownership

Where Lower-Income Renters Can Pursue The Dream Of Homeownership

By Odeta Kushi on December 12, 2019

In 2019, the growth in consumer house-buying power outpaced house price appreciation for the median renter trying to buy the median priced home. But, there are many renters with household incomes below the median income in their cities. We can measure affordability for all renter households based on their household income and the share of homes...

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Topics: Housing Affordability Homeownership First-Time Home Buyer Outlook Report