2019 Housing Outlook
First American Chief Economist Mark Fleming was interviewed on CNBC and shared his perspective on today’s housing market and the outlook for 2019.
“The bigger challenge is really the availability of supply. Existing homeowners today are sitting in their homes on average for 10 years. That’s up significantly from prior to the boom or even 3-4 years ago. They are the primary provider of most of the homes for sale in the U.S. So, the key challenge really is how do we build more new and affordable homes to solve the supply problem.”