Tag Archives: Housing Market Potential

“The steep decline in sales driven by the rapid rise in mortgage rates seems to be behind us, as the initial shock of higher mortgage rates has worn off,” said Mark Fleming, the Chief Economist for First American Financial Corporation.

According to First American’s Potential Home Sales Model, the nationwide sales pace will begin to settle into a new normal, as potential existing-home sales decreased in June, suggesting they may have hit bottom.

Housing market potential increased in November-December 2022 but remains lower than it was in December 2021.

“The higher the mortgage rate, the more sellers will go on strike and the more potential buyers will feel the impact of reduced house-buying power, but price appreciation will further slow and potential buyers can use adjustable-rate mortgages to regain some of that lost house-buying power,” said Mark Fleming, First American’s Chief Economist.

First American Financial Corporation has released the First American’s proprietary Potential Home Sales Model for the month of August 2022. The Potential Home Sales Model measures what the ...

  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 ...

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 ...

According to First American Chief Economist Mark Fleming, rising rates may cool house price appreciation, and bring a new norm to the market.

Loosening credit standards and historic house price appreciation are just two of the trends driving the market during a time of year when it traditionally sinks.

The rising volume of existing home sales doesn’t appear to be going anywhere thanks to record low mortgage rates and demand fueled by millennials hitting the age of ...