The current housing market is similar to the market of the 1980s. History doesn’t repeat itself, but it often rhymes, says First American Chief Economist Mark Fleming.
Read More »Despite Market Conditions, Potential Existing Home Sales Increased 0.45% MoM
Based on April’s data, potential existing-home sales increased to a 5.34 million seasonally adjusted annual rate, a 0.45% month-over-month increase. This represents a 53.3% increase from the market potential low point over 30 years ago in February 1993.
Read More »Potential Home Sales Increase 2.6% Since February
“Our Potential Home Sales Mode has now increased for four consecutive months alongside generally lower mortgage rates, providing some optimism,” said Mark Fleming, Chief Economist at First American.
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 »Is a Housing Market Normalization Upon Us?
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 market level of home sales should be based on economic, demographic, and housing ...
Read More »Potential Home Sales Back Off
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 “post-pandemic norm” amid an environment of rising interest rates, record-high inflation, and ...
Read More »Potential Home Sales Decrease on Monthly, Yearly Basis
First American Financial Corporation has released their latest iteration of the proprietary Potential Home Sales Model (PHSM) for April 2022 and found that potential existing-home sales decreased to a 5.74 million seasonally adjusted annualized rate (SAAR), a 3.0% month-over-month decrease. ...
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