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.

Housing Market Potential Reaches Highest Level Since 2007

By Mark Fleming on September 21, 2020

Since hitting a low point during the initial stages of the pandemic, the only major industry to display immunity to the economic impacts of the coronavirus is the housing market. Housing has experienced a strong V-shaped recovery and is now exceeding pre-pandemic levels. This is largely because the economic distress from the pandemic has...

Read More

Topics: Interest Rates Potential Home Sales tenure

Why Has Housing Market Potential Rebounded During The Pandemic?

By Mark Fleming on August 20, 2020

With a July unemployment rate of 10.2 percent and roughly 30 million Americans claiming unemployment benefits, it’s clear that the domestic economy continues to feel the pain inflicted by the coronavirus pandemic. Yet the housing industry, at least for now, continues its impressive V-shaped rebound. Weekly purchase applications have surpassed...

Read More

Topics: Interest Rates Potential Home Sales tenure

Will Household Formation Continue To Boost Housing Market Potential Amid The Pandemic?

By Mark Fleming on July 16, 2020

The domestic and global economy continue to feel the pain inflicted by the coronavirus pandemic. Yet the housing industry, at least for now, is bucking the trend. Weekly purchase applications have surpassed their levels from one year ago for eight straight weeks, as potential buyers respond to record low mortgage rates. The market potential for...

Read More

Topics: Interest Rates Potential Home Sales tenure

How Mortgage Rates Have Fueled Housing Market Potential Amid The Pandemic

By Mark Fleming on June 18, 2020

The early signs of a housing market comeback that appeared in mid-April, rising weekly purchase loan applications, continued to surge through May and into June. In fact, weekly purchase loan applications have now exceeded pre-pandemic levels.

Read More

Topics: Interest Rates Potential Home Sales tenure

House Price Appreciation Poised To Accelerate As Pandemic Intensifies Housing Supply Shortage

By Odeta Kushi on June 2, 2020

In April, pandemic-related pressure drove the supply of homes for sale to its lowest April supply level ever. Even in the years prior to the pandemic, the lack of housing supply for sale was a significant headwind to the housing market. A major reason for the lack of homes for sale is increasing tenure – the length of time a homeowner lives in...

Read More

Topics: Housing tenure

Why The Pandemic Has Worsened The Housing Supply Shortage

By Mark Fleming on May 20, 2020

The coronavirus pandemic continued its historic assault on the domestic and global economy in April, and the housing market did not go unscathed. Typically, the hot spring home-buying season would be in full swing in April, but pandemic-related impacts, including shelter-in-place orders, the rapid surge in unemployment, and declining consumer...

Read More

Topics: Interest Rates Potential Home Sales tenure