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.

Why Housing Market Potential Increased for the Second Straight Month

By Mark Fleming on January 20, 2023

Housing market potential closed 2022 on a two-month upswing, increasing by 3.0 percent relative to November. Despite the second consecutive month-over-month uptick, housing market potential remained down 17 percent compared with December of last year, ... Read More›

Interest Rates Potential Home Sales tenure

The Case for Optimism for Housing Market Potential in 2023

By Mark Fleming on December 20, 2022

Housing market potential in 2023 will remain largely dependent on the path of mortgage rates, which will be heavily influenced by inflation. In November 2022, housing market potential increased by 2.5 percent relative to October, boosted by a slight mo... Read More›

Interest Rates Potential Home Sales tenure

Why the Housing Market May Begin to Stabilize in 2023

By Mark Fleming on November 18, 2022

In October 2022, housing market potential fell by nearly 4 percent relative to last month and dropped 21 percent compared with October of last year, a decline of 1,334,000 potential existing-home sales. The steep annual decline in market potential was ... Read More›

Interest Rates Potential Home Sales tenure

What’s the Outlook for Housing Market Potential for the Rest of 2022?

By Mark Fleming on October 18, 2022

Housing market potential sagged to its lowest point since May 2020 in September, falling 3.6 percent from August to an estimated 5.38 million at a seasonally adjusted annualized rate (SAAR). Year over year, the market potential for existing-home sales ... Read More›

Interest Rates Potential Home Sales tenure

Why Housing Market Potential Increased for the First Time in Nearly a Year

By Mark Fleming on September 21, 2022

August marked the first time in nearly a year that housing market potential increased on a monthly basis, increasing 2.1 percent compared with July to an estimated pace of 5.61 million at a seasonally adjusted annualized rate (SAAR). The month-over-mon... Read More›

Interest Rates Potential Home Sales tenure

Is this the Great Normalization of the Housing Market?

By Mark Fleming on August 17, 2022

According to our Potential Home Sales Model, the market potential for existing-home sales in July was estimated to be 5.45 million at a seasonally adjusted annualized rate (SAAR), down 0.2 percent compared with last month, and 14.4 percent lower than o... Read More›

Interest Rates Potential Home Sales tenure