Why Renter House-Buying Power is the Key to Understanding Housing Affordability
By
Mark Fleming on August 6, 2018
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.
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Will Wage Growth Signal Relief for Potential Home Buyers?
By
Mark Fleming on August 3, 2018
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 ...
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Interview on CNBC: Explaining the Shortage of Supply in the Housing Market and Demographic Wave of Demand
By
FirstAm Editor on August 1, 2018
First American Chief Economist Mark Fleming was interviewed yesterday on CNBC and discussed housing supply and demand, affordability and challenges facing new home builders.
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Housing In The News Interest Rates Millennials Affordability
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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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 title ...
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Mind the Gap…Between Household Formation and Home Building
By
Mark Fleming on June 20, 2018
Closing the Housing Stock Gap Today’s Census Bureau report sends an optimistic message about the housing market. Building permits increased 8.0 percent since this time last year, while housing starts rose 20.3 percent. The year-over-year increase in housing starts tells us that an increase in new housing supply is on the way. The pace of housing ...
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