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.

Interview With HousingWire: Economics Of The Housing Market’s Recovery And What’s Next

By FirstAm Editor on September 10, 2020

First American Deputy Chief Economist Odeta Kushi was interviewed on HousingWire’s Housing News podcast earlier this month and discussed her perspective on the forces powering the housing market’s V-shaped recovery and what may be in store for the rest of the year.

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Topics: Housing In The News

This Time It’s Different – Why A Wave Of Foreclosures Is Unlikely

By Odeta Kushi on August 10, 2020

Following the rapid contraction in U.S. economic activity as a result of the outbreak of COVID-19, the unemployment rate spiked to 14.4 percent in April and remained elevated in May (13.0 percent), setting the mark for the two highest recorded rates in the post-World War II era. Despite the federal foreclosure moratorium, there were fears that...

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Topics: Housing Interest Rates

Interview With Yahoo! Finance: Impact Of COVID-19 On The Summer Housing Market

By FirstAm Editor on July 30, 2020

First American Chief Economist Mark Fleming was interviewed on Yahoo! Finance earlier this month, discussing the impact of COVID-19 on the housing market and mortgage rates dropping below 3 percent for the first time ever.

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Topics: Housing In The News Interest Rates

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