Market for Potential Home Sales Remains Stagnant – NMP Skip to main content

Market for Potential Home Sales Remains Stagnant

Aug 23, 2017
Home prices during September increased nationally by 3.5 percent from one year earlier and were also up by 0.4 percent from August

Potential existing-home sales during July increased to a 5.82 million seasonally adjusted, annualized rate (SAAR), a 0.2 percent month-over-month increase and a 0.1 percent uptick from one year earlier, according to data from First American Financial Corp.
 
As of last month, potential existing-home sales were at 541,000 (SAAR), or 9.3 percent below the pre-recession peak of market potential, which occurred in July 2005. However, First American determined that the market for existing-home sales is underperforming its potential by 4.7 percent or an estimated 273,000 (SAAR) sales.
 
“Lack of supply continues to be the main story of the 2017 housing market,” said Mark Fleming, chief economist at First American. “Just a few months ago, the difference between the actual level of existing-home sales and the market’s potential was negligible, but supply issues have become a significant impediment and are preventing the market from reaching its potential.”

 
About the author
Published
Aug 23, 2017
Strong Jobs Report Threatens Mortgage Rate Rally

October hiring more than doubled expectations, pushing Treasury yields higher

Nov 06, 2026
Fed Holds Rates, But Pricing Pressures Persist

Rising Treasury yields and fresh inflation data complicate rate locks, borrower qualification, and lender margins as markets anticipate another hike in December

Oct 29, 2026
Zippy Adds Capital For Manufactured-Home Lending Push

The $20 million investment from Saluda Grade will support expansion beyond 27 states and new loan products across wholesale, retail, and community channels

Oct 16, 2026
Inflation Hits 3.7%, Putting Mortgage Rate Relief At Risk

September’s inflation pickup puts recent rate improvements at risk, potentially eroding affordability gains from lower home prices and seller concessions

Oct 14, 2026
PLACE Acquires Ardley, Expanding Push To Turn Existing Borrowers Into New Loans

The latest deal connects borrower retention technology with Maxwell's origination platform and PLACE's real estate network, creating new opportunities for lenders

Oct 09, 2026
Equifax, TransUnion Launch New Tools To Cut Credit Report Costs

Both bureaus introduce ways to purchase credit scores separately from reports, while Equifax reports growing VantageScore adoption and extends $1 pricing through 2028

Oct 09, 2026