Housing Market Trends

From the First American Economic Center

The First American Economic Center has you covered with in-depth analysis and expert insights on the latest data and trends in the industry.

Where New Listings Grow, Sales Flow

By Odeta Kushi on August 20, 2025
Key Points: National sales remain weak despite rising inventory, highlighting the importance of distinguishing between active listings and new listings. Across the top 75 markets, sales are strongly correlated with the flow of new listings. The outlook for new listings growth—and thus sales—will hinge on the tension between the mortgage rate ... Read More

Housing Affordability Mortgage Rates Existing-Home Sales

Mapping the Landscape of Affordability: Why Where You Live Shapes What You Pay

By Sam Williamson on August 13, 2025
Key Points: Affordability depends heavily on location. Regional differences in prices, taxes, and utility costs lead to wide disparities in how much of one’s income is spent on housing. High home prices—particularly in Western markets—drive up mortgage and tax costs, leading to some of the highest cost burden rates in the country. High income ... Read More

Housing Affordability Mortgage Rates

Housing Market Turning Point: Setting the Stage for a New Real Estate Cycle

By Odeta Kushi on August 8, 2025
Key Points: Affordability is likely to improve by year end, but will remain historically constrained. Higher inventory levels in Southern and Western markets will put more downward pressure on prices, moving these markets towards more buyer-friendly conditions. Existing-home sales will be driven by “life happens” events, but will remain limited by ... Read More

Housing Affordability Mortgage Rates

It's a No-Bust Scenario for National House Prices

By Odeta Kushi on August 1, 2025
Key Points: Preliminary data from June and July indicate that affordability on an annual basis has improved for six consecutive months. Despite slowing price growth nationally, national house prices are unlikely to experience a significant and sustained decline. Tighter lending standards, stronger credit quality, significant equity cushions and a ... Read More

Housing Real House Price Index Affordability Mortgage Rates

What Does the Lingering Slump in Existing-Home Sales Mean for the Broader Economy?

By Odeta Kushi on July 18, 2025
Key Points: Existing-home sales are hovering just above 4 million annualized sales, far below pre-pandemic levels. Housing contributes to GDP via new construction and ongoing housing services, totaling 16 percent of GDP last quarter. Fewer home sales curbs spending on everything from sofas to remodeling services, acting as a drag on broader ... Read More

Housing Affordability Mortgage Rates Existing-Home Sales

Affordability Nationally Improves 4.4 Percent Annually as Supply Accumulates in Many Markets

By Mark Fleming on June 27, 2025
Key Points: Annual affordability improved in 43 of the top 50 U.S. markets in April. 11 markets posted both above-average supply and above-average affordability improvement. Miami leads in supply (7.2 months), while Hartford remains the tightest market (1.7 months). Affordability nationally improved 4.4 percent annually in April, as mortgage rates ... Read More

Housing Real House Price Index Affordability Mortgage Rates