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.

Rising Rates Unlikely To Substantially Cool Hot Spring Home-Buying Season

By Mark Fleming on April 16, 2021

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...

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Topics: Interest Rates Homeownership Potential Home Sales

Interview With CNBC: How Rising Rates May Impact Housing Affordability As Spring Home-Buying Season Ramps Up

By FirstAm Editor on April 8, 2021

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.

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Topics: Housing In The News Interest Rates Affordability

Why Affordability Improved Amid Soaring House Prices

By Mark Fleming on March 31, 2021

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...

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Topics: Interest Rates Real House Price Index Affordability

The Good, The Bad And The Maybe Ahead Of Spring Home Buying

By Mark Fleming on March 19, 2021

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...

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Topics: Interest Rates Federal Reserve Homeownership Potential Home Sales

Interview With Yahoo! Finance: “Single Women Are Clearly Embracing Wealth Creation Through Home Buying”

By FirstAm Editor on March 8, 2021

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.

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Topics: Housing In The News Interest Rates Affordability Homeownership

House Prices Are Hot, But Is Housing Overvalued?

By Mark Fleming on February 23, 2021

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...

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Topics: Interest Rates Real House Price Index Affordability