In the third quarter of 2019, the United States reached its longest economic expansion in history, which caused some people to wonder whether we were overdue for a correction. Additionally, global uncertainty resulted in a flight to safety of U.S. Treasury bonds, prompting the dreaded inversion of the yield curve. When that happened, we discussed ... Read More ›

First American Chief Economist Mark Fleming was interviewed on CNBC and Yahoo! Finance last week, discussing the 2020 outlook for the housing market and how persistently low mortgage rates may both help and hurt home buyers in the year ahead. Read More ›

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 ... Read More ›

Housing affordability, or the lack thereof, continued to generate discussion and headlines in 2019. That’s unlikely to change in 2020, as strong demand, driven by low mortgage rates and wage growth, collides with limited housing supply. However, it’s easy to overlook that nearly two-thirds of Americans already own homes so, generally speaking, ... Read More ›

Thus far in 2019, the story of the housing market has been a tale of strong housing demand and limited supply. On the demand side, steadily rising house-buying power has fueled greater demand. Falling mortgage rates and rising household income sparked a nearly 12.6 percent increase in house-buying power year to date through September. The impact ... Read More ›

First American Deputy Chief Economist Odeta Kushi was interviewed on Nightly Business Report last week and discussed the dramatic jump in housing starts to a 12-year high, signaling the potential for some housing supply relief in the near future. Read More ›