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

Are Home Builders Closing The Gap Between Housing Supply And Demand?

By Mark Fleming on July 19, 2018

Yesterday’s Census Bureau report on housing construction bodes well for home buyers, as the pace of housing completions increased 2.2 percent over last year. The continued year-over-year growth in completions means more homes on the market in the short-term, offering some immediate relief in alleviating housing supply shortages.

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Topics: Housing, Homeownership Progress Index, housing starts, Insider

Potential Homeownership Demand Unfazed By Rising Rates

By Mark Fleming on July 9, 2018

As we reflect on our country’s recent Independence Day commemoration, we find that the desire to achieve the American dream of homeownership still exists. Because, while the U.S. homeownership rate remains close to half-century lows, demand is strong, especially among millennials. In fact, results of our Real Estate Sentiment Index survey of...

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Topics: Homeownership Progress Index, Millennials, Insider, Housing

Are Baby Boomers The Key To The Housing Market Shortage?

By Mark Fleming on May 14, 2018

Baby boomers – those born between 1946 and 1964 – have steered economic trends for decades and have the highest rate of homeownership in the country, approximately 80 percent. Now, as the oldest members of the generation edge into their 70s, they are deciding to stay in their homes. According to a Realtor.com housing shortage survey, boomers...

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Topics: Homeownership Progress Index, Insider

The Market Dynamics Fueling The Great Housing Shortage

By Mark Fleming on April 20, 2018

In March, the housing market continued to underperform its potential. Actual existing home sales are 4.5 percent below the market potential for home sales, according to our Potential Home Sales model. The lack of supply is the primary culprit. The inventory of homes for sale in most markets remains historically tight, yet demand continues to...

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Topics: Interest Rates, Homeownership Progress Index, Insider, Housing

Busting The Myth Of The Millennial Renter Generation

By Mark Fleming on April 13, 2018

It’s a popular myth – the millennial generation is destined to be a generation of renters – avocado toast, anyone? With student loan debt burdens, the scars of the Great Recession, and limited housing supply, the myth is rooted in some real challenges for millennials. However, despite these challenges, millennials are not only interested in...

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Topics: Homeownership Progress Index, Millennials, Insider

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