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

House Price Appreciation Poised To Accelerate As Pandemic Intensifies Housing Supply Shortage

By Odeta Kushi on June 2, 2020

In April, pandemic-related pressure drove the supply of homes for sale to its lowest April supply level ever. Even in the years prior to the pandemic, the lack of housing supply for sale was a significant headwind to the housing market. A major reason for the lack of homes for sale is increasing tenure – the length of time a homeowner lives in...

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Topics: Housing tenure

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

Interview With Gary Acosta, NAHREP: Why The Housing Market May Be Better Positioned Than Many Believe Amid The Pandemic

By FirstAm Editor on April 29, 2020

First American Chief Economist Mark Fleming was interviewed by Gary Acosta, co-founder and CEO of the National Association of Hispanic Real Estate Professionals, last week and discussed his perspective on the state of the housing market amid the pandemic and why the housing market may be better positioned than many believe.

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Topics: Housing In The News