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.

How Do Rapidly Rising Mortgage Rates Impact Affordability?

By Mark Fleming on April 22, 2022

In February 2022, the Real House Price Index (RHPI) jumped up by nearly 31 percent. That’s the fastest growth in the more than 30-year history of the series. This rapid annual decline in affordability was driven by two fa... Read More›

Interest Rates Real House Price Index Affordability

Is Affordability Worse Than The 2006 Housing Boom Peak?

By Mark Fleming on March 29, 2022

In the first report with 2022 data, the Real House Price Index (RHPI) jumped up by nearly 27 percent, the fastest growth in the RHPI since 2004. This rapid... Read More›

Interest Rates Real House Price Index Affordability

Will Rising Rates Bring Balance To The Housing Market?

By Mark Fleming on February 23, 2022

In December 2021, the Real House Price Index (RHPI) increased 21.7 percent compared wit... Read More›

Interest Rates Real House Price Index Affordability

How Will Rising Mortgage Rates Impact Spring Home-buying?

By Mark Fleming on January 24, 2022

In November, year-over-year nominal house price appreciation reached 21.5 percent, the sixth consecutive month it has set a new record. According to our Read More›

Interest Rates Real House Price Index Affordability

Affordability Falls To Its Lowest Level Since 2008

By Mark Fleming on December 27, 2021

Affordability sank to its lowest level since 2008 in October, as two of the three key drivers of the Real House Price Index (RHPI) swung in favor of reduce... Read More›

Interest Rates Real House Price Index Affordability

Why House Prices Still Have Room To Run

By Mark Fleming on November 30, 2021

According to the Real House Price Index (RHPI), which measures housing affordability in the context of changes in consumer house-buying power,... Read More›

Interest Rates Real House Price Index Affordability