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First American Financial Corporation reports developments in title insurance, settlement services and risk solutions for real estate transactions. Recurring updates include quarterly financial results for its Title Insurance and Services and Home Warranty businesses, commercial real estate transaction activity, investment income, share repurchases and capital management.
The company also announces technology and data initiatives through First American Title, First American Data & Analytics and ServiceMac. Company news covers AgentNet and AI-assisted title tools, FraudGuard mortgage-risk analytics, valuation and information products, mortgage subservicing workflows, home warranty products, and banking, trust and wealth management services offered through its real estate transaction platform.
First American Financial (NYSE: FAF) announced that Deputy Chief Economist Odeta Kushi has been named to GlobeSt.'s 2024 Women of Influence list. This prestigious award recognizes female commercial real estate professionals who have significantly impacted the industry. Kushi's selection highlights her influential role in providing economic insights and housing market analysis.
As a key member of First American's Economics and Decision Sciences teams, Kushi contributes to industry events, media interviews, and publishes research on the company's Economic Center. She also co-hosts The REconomy Podcast™ and serves as co-chair of the Real Estate/Construction Roundtable for the National Association of Business Economics. Kushi's recognition underscores her commitment to diversity, equity, and inclusion in the real estate sector.
First American Title Insurance Company, a subsidiary of First American Financial (NYSE: FAF), announced that Crystal Cook, Vice President and Profit Center Manager, has been named a GlobeSt. 2024 Woman of Influence. Cook leads the Georgia operations for First American's National Commercial Services business, managing over 50 professionals and overseeing all aspects of underwriting, sales, escrow, and title production.
Cook's recognition stems from her leadership in the commercial real estate sector and her dedication to Diversity, Equity, and Inclusion (DEI) efforts within First American. She sits on the company's DEI Advisory Council, has helped launch five new employee resource groups, and chairs the National Commercial Services Division's DEI Taskforce. Cook was also selected for First American's elite Women in Leadership program, further demonstrating her commitment to advancing equity for women and underrepresented groups in the title insurance industry.
First American Data & Analytics released its June 2024 Home Price Index (HPI) report, revealing that Dallas-Plano-Irving home prices increased by 2.1% year-over-year. The national HPI showed a 5.6% year-over-year increase, with prices hitting another record high despite slowing appreciation for the sixth consecutive month.
Key findings for Dallas-Plano-Irving:
- Month-over-month HPI change (May-June 2024): +0.2%
- Year-over-year HPI changes by price tier: Starter (2.1%), Mid-Tier (1.0%), Luxury (3.5%)
Chief Economist Mark Fleming noted that elevated mortgage rates are keeping homeowners rate locked-in and reducing affordability for potential first-time buyers. However, he emphasized that housing remains fundamentally undersupplied nationally, which will limit how low house price appreciation can fall.
First American Data & Analytics released its June 2024 Home Price Index (HPI) report, revealing that Los Angeles-Long Beach-Glendale home prices increased by 2.9% year-over-year. The national HPI showed a 5.6% year-over-year increase, with prices hitting another record high. However, annualized house price appreciation slowed for the sixth consecutive month.
Chief Economist Mark Fleming noted that elevated mortgage rates are keeping homeowners rate locked-in and reducing affordability for potential first-time buyers. This has led to a pullback in demand and an uptick in supply, cooling price growth. Despite this, the housing market remains fundamentally undersupplied nationally.
The report also highlighted price tier data, showing that luxury tier homes in the Los Angeles area increased by 2.0% year-over-year, while starter and mid-tier homes saw increases of 3.9% and 3.8% respectively. Anaheim, Calif. led the nation with the highest luxury tier HPI increase at 13.0%.
First American Data & Analytics released its June 2024 Home Price Index (HPI) report, revealing that Houston-The Woodlands-Sugar Land home prices increased by 3.4% year-over-year. The national HPI showed a 5.6% year-over-year increase, with prices hitting another record high. However, annualized house price appreciation slowed for the sixth consecutive month.
Key highlights for the Houston metro area include:
- Month-over-month HPI change: +0.4%
- Starter tier homes: +4.6% year-over-year
- Mid-tier homes: +2.4% year-over-year
- Luxury tier homes: +4.2% year-over-year
Chief Economist Mark Fleming noted that elevated mortgage rates continue to impact affordability and keep homeowners rate locked-in, while an uptick in supply is cooling price growth. However, the fundamental undersupply of housing nationally is expected to maintain a floor on house price appreciation.
First American Data & Analytics released its June 2024 Home Price Index (HPI) report, revealing that home prices in the New York-Jersey City-White Plains area increased by 4.0% year-over-year. The national HPI showed a 5.6% year-over-year increase, with prices hitting another record high. However, annualized house price appreciation slowed for the sixth consecutive month.
Key findings for the New York-Jersey City-White Plains metro area include:
- Month-over-month change in HPI: -0.7%
- Starter tier price change: 8.2%
- Mid-tier price change: 5.5%
- Luxury tier price change: 0.7%
Chief Economist Mark Fleming noted that elevated mortgage rates are keeping homeowners rate locked-in and reducing affordability for potential first-time buyers. Despite cooling price growth, housing remains fundamentally undersupplied nationally, which will likely prevent significant price declines.
First American Data & Analytics released its June 2024 Home Price Index (HPI) report, revealing a continued slowdown in national house price growth for the sixth consecutive month. Key highlights include:
- National home prices increased by 0.2% month-over-month and 5.6% year-over-year
- Prices are now 54.7% higher compared to pre-pandemic levels
- The luxury price tier showed increases across all 30 markets tracked
- Anaheim, Calif. led with the highest year-over-year increase of 10.2%
Chief Economist Mark Fleming attributes the cooling trend to elevated mortgage rates reducing affordability and increasing supply. However, he notes that fundamental undersupply will likely prevent major price declines. The report also segments price changes into starter, mid, and luxury tiers for various metropolitan areas.
First American Financial (NYSE: FAF) will host a conference call on July 25, 2024, at 11 a.m. EDT to discuss its second-quarter 2024 financial results, which will be released on July 24 after market close.
Interested parties can access the call via phone or online. The company also announced plans to release its third-quarter financial results on October 23, 2024, and will hold another conference call on October 24, 2024, at 11 a.m. EDT.
An audio replay of the July call will be available until August 7, 2024, and an archive of the call and earnings release can be found on First American’s investor website.
First American Financial (NYSE: FAF) has launched a seven-episode “Summer School” series through The REconomy Podcast™. The series, starting June 20 and running until August 29, aims to provide real estate professionals and homebuyers with clear, practical insights on real estate and housing market dynamics. Hosted by Chief Economist Mark Fleming, Deputy Chief Economist Odeta Kushi, and Senior Commercial Real Estate Economist Xander Snyder, the 15-minute episodes cover topics like home purchasing, investment valuation, and zoning. The series culminates with two special episodes during
First American Data & Analytics released its May 2024 Home Price Index (HPI) report, showing a +0.5% month-over-month increase from April to May 2024 and a +5.9% year-over-year rise from May 2023. The report highlights that home prices nationally are now 54.6% higher than pre-pandemic levels in February 2020. Chief Economist Mark Fleming noted a return to normal price appreciation trends due to higher mortgage rates and increased home listings. The starter-tier segment saw the highest price gains, particularly in cities like Nassau County, St. Louis, Miami, and Pittsburgh. Key markets with the greatest year-over-year HPI increases included Anaheim (+10.5%), Miami (+9.5%), and San Diego (+8.4%).