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.

Two Trends Slowing Housing Market Normalization

By Mark Fleming on June 20, 2022

The market potential for existing-home sales in May fell 2 percent to 5.62 million at a seasonally adjusted annualized rate (SAAR), compared with last month, and is 10.5 percent lower than one year ago. Yet, the market potential for home sales remains ... Read More›

Interest Rates Potential Home Sales tenure

The Reconomy Podcast™: Here’s How We Know That Housing Supply Is Still Low

By FirstAm Editor on June 16, 2022

In this episode of the REconomy Podcast™ from First American, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi walk through several measures of housing supply and what those housing supply measures tell us about the housing market.Read More›

Housing Interest Rates Affordability REconomy

How Aggressive Will The Fed Need To Be To Get Inflation Under Control?

By Mark Fleming on June 13, 2022

The dual mandate of the Federal Reserve is to maintain stable inflation and full employment, and while the latter goal has mostly been achieved post-pandemic, the former remains far from target. One of the primary instruments of monetary policy the Fed... Read More›

Interest Rates

The Reconomy Podcast™: Don’t Be Alarmed By The Increase In Arms

By FirstAm Editor on June 2, 2022

In this episode of the REconomy Podcast™ from First American, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi explain why the recent increase in adjustable-rate mortgages (ARMs) does not necessarily signal an impending housing bust.... Read More›

Housing Interest Rates Affordability REconomy

The Housing Market Is Slowing By Design, But Don't Expect A Bust

By Mark Fleming on May 27, 2022

In March 2022, the Real House Price Index (RHPI) increased 32.5 percent year over year, which is the fastest growth in the more than 30-year history of the series. This rapid annual decline in affordability was driven by ... Read More›

Interest Rates Real House Price Index Affordability

The Reconomy Podcast™: Understanding The Neutral Rate Of Interest, Inflation And The Housing Market

By FirstAm Editor on May 19, 2022

In this episode of the REconomy Podcast™ from First American, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi explain why the neutral rate of interest is an important metric in Federal Reserve’s fight against inflation and what it m... Read More›

Housing Interest Rates Affordability REconomy