After hitting its highest point since 2007 last month, housing market potential fell modestly in March, according to our Potential Home Sales Model. Housing market potential remains near the 13-year high point, but the severely limited supply of homes for sale and an uptick in mortgage rates pulled market potential for existing-home sales off...
Rising Rates Unlikely To Substantially Cool Hot Spring Home-Buying Season
Interview With CNBC: How Rising Rates May Impact Housing Affordability As Spring Home-Buying Season Ramps Up
First American Deputy Chief Economist Odeta Kushi was interviewed on CNBC yesterday, discussing the outlook for housing affordability amid rising mortgage rates and expectations for the spring home-buying season.
Why Affordability Improved Amid Soaring House Prices
Soaring nominal house prices dominate recent headlines and for good reason. It is true that nominal house prices are the highest they have ever been, over 22 percent higher than the housing boom peak in 2006, according to the First American Data & Analytics House Price Index. The acceleration in the pace of annual house price growth began in...
The Good, The Bad And The Maybe Ahead Of Spring Home Buying
In February 2021, housing market potential increased to its highest level since 2007, despite the largest month-over-month jump in mortgage rates since October 2019. Housing market potential rose 1.3 percent in February relative to the previous month, and 12.2 percent year-over-year. While rising average tenure length was the largest drag on...
Topics: Interest Rates Federal Reserve Homeownership Potential Home Sales
Interview With Yahoo! Finance: “Single Women Are Clearly Embracing Wealth Creation Through Home Buying”
First American Deputy Chief Economist Odeta Kushi was interviewed on Yahoo! Finance earlier this month, explaining why women homeownership rates are on the rise and the outlook for the housing market in the year ahead.
Topics: Housing In The News Interest Rates Affordability Homeownership
House Prices Are Hot, But Is Housing Overvalued?
Punxsutawney Phil may have signaled six more weeks of winter, but in housing, it looks like spring (home buying) has already arrived. Typically, the housing market winds down a bit in the winter, but America’s housing market is booming, even in the colder months. The First American Data & Analytics nominal house price index indicates unadjusted...