Articles Tagged with ''Mark Fleming''

First American: America's home buying power strengthens in February

Real house price appreciation falls to slowest annual pace since December 2017
In February, home prices declined 2.9% year over year, pushing consumer home buying power 2.4% higher than its 2018 levels. Notably, First American Chief Economist Mark Fleming said the first quarter of 2019 has been friendly to potential homebuyers, as declining mortgage rates, ongoing household income growth and moderating unadjusted home prices have boosted affordability.
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First American: Dwindling inventory threatens potential home sales growth

Market potential for existing-home sales retreats by 2.9%, totaling a loss of 153,000 sales
Although potential existing-home sales rose marginally in February, a lack of inventory now threatens future growth, according to First American's Potential Home Sales Model. First American Chief Economist Mark Fleming said the housing market continues to underperform its potential, but shows signs of promise leading into the spring home-buying season.
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First American: Mortgage fraud risk climbs 4.6% in January

Rise attributed to a plunge in mortgage rates and spike in applications
In January, declining rates championed an acceleration in defect risk, according to the latest First American Loan Application Defect Index. First American Chief Economist Mark Fleming said January marks the fifth consecutive month that defect risk in purchase transactions has risen.
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First American: Home buying power sees largest monthly gain in more than five years

Home prices increased 2.4% in December
In December home prices moved forward 2.4%, rising 11.8 % year over year, according to First American’s Real House Price Index. First American Chief Economist Mark Fleming said while housing affordability in 2018 fared poorly in comparison to 2017, the year finished strong in December thanks to declining mortgage interest rates.
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First American: Mortgage defect risk climbs 7.4% in December

Rising purchase applications and natural disasters contribute to rising defect risk
In December, defect risk continued to rise across the country, according to the latest First American Loan Application Defect Index. First American Chief Economist Mark Fleming attributes this to two factors: the rising share of purchase transactions and natural disasters.
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First American: American home buying power is strengthening

Home prices increased 0.8% in November
In November, home prices climbed 0.8%, increasing 15.3% year over year, according to First American’s Real House Price Index. First American Chief Economist Mark Fleming said consistent growth among mortgage rates, household income and unadjusted house prices defined 2018's housing market.
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First American: Stock market volatility aids potential homebuyers

Market potential for existing-home sales increases 1.1% year-over-year
In December, potential existing-home sales moderately increased from the previous month and inched forward from 2018 levels, according to First American’s Potential Home Sales Model. First American Chief Economist Mark Fleming said that stock market volatility is aiding potential homebuyers.
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American homeownership tenure is climbing

What does this mean for the housing market?
Americans are remaining in their homes longer than ever before, and recent data indicates that homeownership tenure has risen 10% just from 2017. But why are homeowners staying put and what does that mean for the housing market's future?
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