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.

Interviews On CNBC And Bloomberg TV: Discussing The Impact Of Historically Low Rates And The Outlook For The Housing Market And The Economy

By FirstAm Editor on August 23, 2019

First American Chief Economist Mark Fleming was interviewed on CNBC and Deputy Chief Economist Odeta Kushi on Bloomberg TV earlier this week and discussed the impact of historically low rates on the housing market, and what the Fed minutes indicate about the direction of rate policy and the economy.

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Topics: Housing In The News Interest Rates Federal Reserve Affordability

What Does Increasing Tenure Length Mean For The Housing Market?

By Mark Fleming on August 20, 2019

The housing market essentially reached its potential in July 2019, as actual existing-home sales were 0.05 percent above the market’s potential. Existing-home sales in 2019 are running at a pace similar to 2015, even though rates have fallen and household income has increased this year. Housing market potential benefitted from a 10.6 percent...

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Topics: Interest Rates Federal Reserve Homeownership Potential Home Sales

Why Lower Mortgage Rates Have Not Closed The Housing Market Performance Gap

By Mark Fleming on July 19, 2019

The housing market underperformed its potential in June 2019, as actual existing-home sales were 1.5 percent below the market’s potential. The market potential for existing-home sales increased 1.1 percent compared with May, according to our Potential Home Sales model.

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Topics: Interest Rates Federal Reserve Homeownership Potential Home Sales

Interview On Nightly Business Report: Discussing Record-setting Economic Expansion And The Health Of The Housing Market

By FirstAm Editor on July 9, 2019

First American Deputy Chief Economist Odeta Kushi was interviewed on Nightly Business Report last week and discussed the record-setting economic expansion and the health of the housing market in 2019.

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Topics: Housing In The News Interest Rates

Interview On CNBC: Discussing The Outlook For Mortgage Rates And Impact Of Rising Tenure Length On Housing Supply

By FirstAm Editor on June 25, 2019

First American Chief Economist Mark Fleming was interviewed on CNBC last week and discussed the outlook for mortgage rates and the impact of rising tenure length on housing supply.

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Topics: Housing In The News Interest Rates Affordability

The Five Cities Where Affordability Improved The Most And Why

By Mark Fleming on June 24, 2019

Two of the three key drivers of the Real House Price Index (RHPI), household income and mortgage rates, swung in favor of increased affordability in April. The 30-year, fixed-rate mortgage fell by 0.33 percentage points and household income increased 2.7 percent compared to April 2018. When household income rises, consumer house-buying power...

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Topics: Interest Rates Real House Price Index Affordability