In the inaugural episode of the REconomy podcast from First American, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi discuss the economic forces influencing real estate, affordability, housing supply, the impact of historically low interest rates, and how the COVID-19 pandemic is shaping demand for housing.
Listen to the REconomy podcast:
“So, we remain cautiously optimistic, with tailwinds on our side from demographics and mortgage rates, but of course headwinds remain. Mostly, it's the lack of available inventory of homes for sale, but also potentially the labor market decline worsening or at least the recovery slowing.
“Those are all things that we’ll keep our eye on, but it's worth mentioning that the current dynamics will probably result in continued house price appreciation, at least for the next couple of months, as we don't anticipate these dynamics will go away.” – Mark Fleming, chief economist at First American