In September 2019, the housing market performed to its potential, as actual existing-home sales were a marginal 0.04 percent, or an estimated 2,340 seasonally adjusted annualized sales, below market potential. Housing market potential decreased relative to last month, but increased 3.8 percent compared with September of last year. Indeed, in...

The housing market exceeded its potential in August 2019, as actual existing-home sales were 0.8 percent above the market’s potential. Housing market potential increased relative to last month, but declined 1.9 percent compared with August of last year. While down compared with a year ago, existing-home sales have slightly outperformed market...

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.