Items Tagged with 'Mark Fleming'


  • 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.
    Read More
  • 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.
    Read More
  • 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.
    Read More
  • 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?
    Read More
  • Experts: Wage growth could further rate hikes in 2019

    But one expert thinks 2018 will end on a jolly note
    In November, the unemployment rate held steady at 3.7% and wages rose slightly, leading some experts to predict the likelihood of continual rate hikes in 2019. Despite these concerns, one expert believes homebuyers will end the year on a jolly note.
    Read More
  • First American: Home prices point to trouble ahead

    Data reveals Americans need income growth
    Home prices have climbed 15.3% year over year, signaling affordability concerns lie ahead, according to First American's Real House Price Index. First American Chief Economist Mark Fleming said without stronger household income growth, rising mortgage rates will continue to impede consumer house-buying power.
    Read More
  • First American: Mortgage rates overshadowing healthy economy

    Market potential for existing-home sales decrease 0.4% year-over-year
    In October, potential existing-home sales rose from the previous month, but fell below 2017 levels, according to First American’s Potential Home Sales Model. First American Chief Economist Mark Fleming said despite the boost in demand and positive economic environment, the market potential for home sales has outpaced actual existing-home sales for five straight years.
    Read More
  • Homeowners are staying put longer than ever before

    With a disincentive to move, they may just look for other ways to tap that equity
    Homeowners are staying in place longer than ever before, despite the growing amount of equity in their homes. A new report from First American reveals that the median tenure for homeownership has jumped to 10 years, up 10% from last year. But what will they do about all that untapped equity?
    Read More
  • Construction spending barely inches forward

    August is 6.5% above August 2017
    The U.S. Census Bureau of the Department of Commerce announced that construction spending during August 2018 was estimated at a seasonally adjusted annual rate of $1.319 trillion, only 0.1% above the revised July estimate of $1.317 trillion.
    Read More
  • Federal Reserve hikes interest rates again

    As expected, the Federal Reserve pushed rates up an additional .25% to stymie inflation
    The Federal Reverse raised interest rates for the third time this year, pushing rates up by .25% to 2.25%. Strong economic growth and a booming job market have led to the eighth rate hike since 2015, as the Fed tries to rein in the acceleration of inflation.
    Read More