Tag Archives: potential home sales

Mortgage applications climbed in November, but will home sales accelerate throughout the end of the year? Mark Fleming, Chief Economist at First American, details the state of existing-home sales and more market predictions.

Spring is typically a busy homebuying season, but new listings of homes for sale are down 24% from a year ago, according to a new report from Redfin. The total number of homes for sale is also down nearly 10%, representing the biggest drop in over a year.

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.

“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.

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 ...

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.  ...

According to First American Financial Corporation, the housing market strengthened on a modest basis in October saying that strong demand continues to push the market upwards.  First American, a company which offers title insurance, settlement services, and risk solutions for real estate transactions, released its Potential Home ...

Inventory shortages have become one of the defining trends of the housing market in recent months. Demand for homes is skyrocketing, but lack of sufficient supply is driving high home prices ever higher, forcing some homeowners to stay in their ...

According to a new report by First American, while existing-home sales continued to underperform their potential in December 2017, the gap between actual sales and that potential has continued to narrow. First American’s proprietary Potential Home Sales model reports that ...

Inventory issues continue to plague a market that has the potential to be performing much better. Low interest rates are helping balance things out, but what happens when they change?