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 Will Drive Housing Market Potential In 2021?

By Mark Fleming on December 21, 2020

The housing market continues to impress, even as it enters the colder months, which is traditionally real estate’s slow season. After falling to a near-decade low in May due to pandemic-driven pressures, existing-home sales hit a 14-year high in October. In November, our measure of the market potential for existing-home sales increased 10...

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Topics: Interest Rates Potential Home Sales tenure

What Does The Housing Market’s Historic Pandemic Rebound Mean For 2021?

By Mark Fleming on November 18, 2020

The housing market’s historic rebound since bottoming in the spring has been nothing short of amazing. After falling to a near-decade low in May, existing-home sales hit a 14-year high in September. In October, our measure of market potential for existing-home sales increased 9.0 percent compared with one year ago to a 5.98 million seasonally...

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Topics: Interest Rates Potential Home Sales tenure

Why Housing Market Potential Remains At 13-Year High Point

By Mark Fleming on October 16, 2020

The housing market’s impressive “V-shaped” recovery has thus far shown significant resilience to the economic impacts of the coronavirus pandemic. Demographically driven millennial demand has continued unabated, low rates have fueled house-buying power, and historically low inventory has increased competition, leading to rising prices.

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Topics: Interest Rates Potential Home Sales tenure

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...

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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...

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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...

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Topics: Interest Rates Potential Home Sales tenure