Market at Potential in Era of Low Interest Rates and Job Growth, According to First American Chief Economist's Potential Home Sales Model

First American Financial Corporation (NYSE: FAF), a leading global provider of title insurance, settlement services and risk solutions for real estate transactions, today released First American’s proprietary Potential Home Sales model for the month of June 2016. The model provides a gauge on whether existing-home sales are under or over their long-run potential level based on current market fundamentals. For June, the model showed that the market for existing-home sales is underperforming its potential by only 0.3 percent or an estimated 17,000 seasonally adjusted, annualized rate (SAAR) of sales, an improvement over last month’s revised performance gap of -3.1 percent or 180,000 (SAAR) sales