Tagged: First American Financial Corp.

Rising rates, omicron variant, and the weather cited as curbing sales; downward pressure on rates seen as Russia-Ukraine conflict rages.

Increased Mortgage Rates and Low Inventory Will Keep Buyers Out of the Market

In January 2022, potential existing home sales fell to a 6.31 million seasonally adjusted annualized rate (SAAR) — a 0.9% month-over-month decrease.

Promotes President Kenneth DeGiorgio to CEO as CEO Dennis Gilmore becomes chairman.

Acquisition would expand First American’s footprint in 11 states

First American's chief economist says that, despite September's lowest affordability level since 2008, housing remains undervalued in most markets.

First American Deputy Chief Economist Odeta Kushi reviews historical data to gauge effect on housing market, rates.

First American says prices, expected rate increases to affect house-buying power, but rising incomes could help.

First American Financial Corporation's Real House Price Index reported that while home prices have jumped considerably, they are still 40% more affordable than the housing boom's peak.

While housing market potential strengthened in June 2021, the 0.2% increase from May could have been much stronger if not for the limited supply of housing.