First American: Mortgage rates champion growth in potential existing home sales
First American | May 20, 2019
In April, potential existing-home sales increased 0.1% from the previous month, narrowing the market’s improvement gap, according to First American’s Potential Home Sales Model. “The housing market continued to underperform its potential in April 2019, but the performance gap shrank compared with March,” First American Chief Economist Mark Fleming said. “Actual existing-home sales remain 1.3% below the market’s potential, but the performance gap narrowed from 2% last month, according to our Potential Home Sales Model.”