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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.

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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 ...

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