A new report from the National Association of Realtors shows pending home sales numbers improving on a monthly basis for the first time in six months. Click through to read Chief Economist Lawrence Yun’s thoughts on the matter.
Read More »Housing Market Potential Drops 17% YoY
“The steep annual decline in market potential was largely a result of higher mortgage rates, which prevent both buyers and sellers from jumping into the market,” said Mark Fleming, Chief Economist for First American Financial Corporation.
Read More »The Possible Outcomes of 2023’s Housing Market
A new blog post by First American Deputy Chief Economist Odeta Kushi lays out three possible scenarios for the housing market in 2023.
Read More »Home Sales Increase Amid Market Cooldown
According to First American’s Potential Home Sales Model for November 2022, potential existing-home sales increased to a 5.24 million seasonally adjusted annualized rate, representing a 2.5% month-over-month increase.
Read More »Fueling Growth in Mortgage Subservicing
ServiceMac President & CEO Bob Caruso shares his perspectives on the impact of technology on the servicing industry, and what lies ahead for the servicing sector in 2023.
Read More »Pending Home Sales Dip for Fifth Consecutive Month
After experiencing a near 5% monthly drop in pending October sales, NAR reported the near-20-year high in mortgage rates and expensive home prices forced many prospective buyers to the sidelines.
Read More »Home Price Index Up 60% Annually
“But real estate is local, and there are markets where annual price growth isn’t just slowing, but prices are falling from recent peaks,” said Mark Fleming, Chief Economist at First American Financial Corporation.
Read More »Examining the Balance Between Foreclosure and Employment
A new blog from First American questions whether or not the impact of an impending recession on the labor market will cause a "trickle" or "tsunami" in foreclosures.
Read More »Pandemic-Era Sellers’ Market Experiences Rapid Decline
As housing affordability continues its decline, the latest analysis from First American projects home price appreciation to fall further as the booming sellers’ market seen in early 2022 has now turned in favor of homebuyers.
Read More »Housing Market: What to Expect in the Remainder of 2022
Housing market potential sagged to its lowest point since May 2020 in September, falling from August to an estimated 5.38 million at a seasonally adjusted annualized rate.
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