The U.S. economy remains on an impressive growth streak. Last month, the Commerce Department reported that the gross domestic product, the broadest measure of goods and services produced in the economy, grew at a 4.1 percent annualized rate in the second quarter, the strongest pace of growth since 2014. The economy has added jobs every month for ... Read More ›

Limited housing supply and growing millennial demand continue to drive home prices higher across the country. Even when adjusted for income growth and mortgage rates, prices are 11.4 percent higher than a year ago, according to our Real House Price Index. Unless income growth accelerates and begins to outpace house price appreciation, or housing ... Read More ›

The short answer is yes. Home buyers looking for more housing supply to choose from can take heart, as Thursday’s Census Bureau report on housing construction showed builders are starting work on additional housing, inching closer to balancing inventory with demand. Read More ›

With unadjusted house prices recently eclipsing their 2006 housing boom peak, housing affordability is a concern in the industry and for potential home buyers. Existing home owners, by definition, can afford one so, when we are speaking about housing affordability, it is really a conversation about first-time home buyers. Read More ›

Home buyers should feel a bit more confident today after the Bureau of Labor Statistics’ employment situation report for July stated that the unemployment rate edged down to 3.9 percent, and hourly wages continue to increase. House price appreciation has exceeded wage growth for 6 years, so ongoing increases in wage growth could translate into ... Read More ›

First American Chief Economist Mark Fleming was interviewed yesterday on CNBC and discussed housing supply and demand, affordability and challenges facing new home builders. Read More ›