“The average 30-year, fixed mortgage rate trended upward throughout September, approaching 8% in early October. Higher mortgage rates have a dual impact on the housing market–reducing affordability for buyers and strengthening the rate lock-in effect for potential sellers,” said Mark Fleming, Chief Economist at First American.
Read More »Housing Market Struggles Headed Into Peak Summer Season
“The housing market remains sluggish heading into the spring homebuying season. While mortgage rates have retreated from recent peaks, they remain elevated compared with one year ago,” Chief Economist Mark Fleming said.
Read More »Potential Home Sales Increase Before Spring Buying Frenzy
“The spring season is typically the busiest time of the year for the housing market,” said Mark Fleming, Chief Economist at First American.
Read More »Homebuying Power Up $16K in December
Housing market potential increased in November-December 2022 but remains lower than it was in December 2021.
Read More »Potential Home Sales Model Reports Slowing Sales
First American Financial Corporation has released the latest Potential Home Sales Model for the month of July 2022, which uses proprietary data to measure what the healthy ...
Read More »Trying to Find a Post-Pandemic Norm
Potential is defined as the latent ability for a thing to develop into something bigger in the future. Currently, the housing market is trying to find a new ...
Read More »Is the Housing Market Finding a Not-so-New Normal?
According to First American Chief Economist Mark Fleming, rising rates may cool house price appreciation, and bring a new norm to the market.
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