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. Read More

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 ... Read More

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 ... Read More

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 ... Read More

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 a ... Read More

Interest Rates Federal Reserve Homeownership Potential Home Sales

How Homebodies Hold Down Home Sales

By Odeta Kushi on March 19, 2019
First American’s most recent Potential Home Sales model for January 2019 found a 5.7 percent decline in the market potential for existing home sales, compared to the previous year. Increasing tenure length (the length of time a homeowner stays in their home before moving) was the most prominent factor leading to this decline. Read More

Homeownership Potential Home Sales Tenure