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.

REconomy Podcast: What A Changing Labor Market Means For Housing

By FirstAm Editor on January 13, 2021

In this episode of the REconomy podcast from First American, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi discuss how long-term shifts in the U.S. labor market have been accelerated by the pandemic, and what that may mean for housing in the months and years ahead.

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Topics: Housing Affordability REconomy

Will The Super-Sellers' Market Continue To Impact Affordability In 2021?

By Mark Fleming on December 28, 2020

The housing market prior to the pandemic could have been characterized as a sellers’ market, with a shortage of supply relative to demand. With the current supply of homes for sale even tighter relative to demand, it can only be characterized as a super-sellers’ market today. The pandemic has intensified a sense of home as refuge and falling...

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Topics: Interest Rates Real House Price Index Affordability

Will Record Equity Levels Prevent A Foreclosure Tsunami?

By Odeta Kushi on December 23, 2020

In spite of the record-setting spike in unemployment at the outset of the pandemic, foreclosure activity in 2020 has plunged to an all-time low. The fiscal stimulus and foreclosure moratorium clearly made a difference, helping thousands of homeowners keep their homes. At the peak in early June, 8.6 percent of all mortgage loans were in...

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Topics: Homeownership

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

REconomy Podcast: 2021 Housing Market Outlook

By FirstAm Editor on December 10, 2020

In this episode of the REconomy podcast from First American, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi explain what has fueled the impressive housing market rebound from the pandemic-driven slowdown in the spring and why the housing market remains on solid footing heading into 2021.

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Topics: Housing

Why The Big Short In Housing Supply Will Remain In 2021

By Mark Fleming on December 3, 2020

As the housing market has recovered from the initial impacts of the pandemic, nominal house price appreciation has soared, but affordability actually improved until recently due to the house-buying power benefit from historically low mortgage rates. However, for the second month in a row, the Real House Price Index (RHPI) increased, indicating...

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Topics: Interest Rates Real House Price Index Affordability