SANTA ANA, Calif.–(BUSINESS WIRE)–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 October 2021. The Potential Home Sales Model measures what the healthy market level of home sales should be based on economic, demographic, and housing market fundamentals.
October 2021 Potential Home Sales
For the month of October, First American updated its proprietary Potential Home Sales Model to show that:
- Potential existing-home sales increased to a 6.27 million seasonally adjusted annualized rate (SAAR), a 0.1 percent month-over-month increase.
- This represents a 79.8 percent increase from the market potential low point reached in February 1993.
- The market potential for existing-home sales increased 10.3 percent compared with a year ago, a…