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.

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

Why The Housing Market Has Entered An Unprecedented Homebody Era

By Mark Fleming on June 20, 2019

The housing market outperformed its potential in May 2019. Actual existing-home sales are 0.2 percent above the market’s current potential, according to our Potential Home Sales model. Even as mortgage rates have decreased, and household income has increased, the market is underperforming compared to it’s potential from a year ago. What are the...

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Topics: Interest Rates Federal Reserve Homeownership Potential Home Sales

Why Did Housing Market Potential Improve In April?

By Mark Fleming on May 20, 2019

The housing market continued to underperform its potential in April 2019, but the performance gap shrank compared with March. Actual existing-home sales remain 1.3 percent below the market’s potential, but the performance gap narrowed from 2.0 percent last month, according to our Potential Home Sales model. That means the housing market has the...

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Topics: Interest Rates Federal Reserve Homeownership Potential Home Sales

Two Trends Boost Home-Buyer Demand As Spring Home-Buying Season Begins

By Mark Fleming on April 18, 2019

While the housing market continued to underperform its potential in March 2019, the green shoots of spring home buying have emerged. Actual existing-home sales are 2.3 percent below the market’s potential, narrowing the gap from last month, according to our Potential Home Sales model. That means the housing market has the potential to support...

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Topics: Interest Rates Federal Reserve Homeownership Potential Home Sales

Why The Stage Is Set For A Stronger Spring Home-Buying Season

By Mark Fleming on March 21, 2019

In February 2019, the housing market continued to underperform its potential, but showed signs of promise leading into the spring home-buying season. Actual existing-home sales are 2.5 percent below the market’s potential, according to our Potential Home Sales model. That means the market has the potential to support 127,000 more home sales at...

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Topics: Interest Rates Federal Reserve Insider Homeownership Potential Home Sales