First American Financial Corporation - FAF STOCK NEWS

Los Angeles-Long Beach-Glendale home prices showed a 0.6% increase year-over-year in October, with a slight -0.3% month-over-month decline. The national Home Price Index recorded a 3.8% year-over-year increase, ending a nine-month deceleration trend.

In the LA metro area, all price tiers showed similar growth: starter homes at 1.2%, mid-tier at 1.3%, and luxury homes at 1.2%. Among major markets, Anaheim led with 7.0% growth, while Tampa showed the largest decline at -1.5%. Chief Economist Mark Fleming notes that house price growth is stabilizing at a balanced pace, though higher mortgage rates may dampen buying activity through 2024.

Dallas-Plano-Irving home prices increased 1.9% year-over-year in October 2024, with a monthly gain of 0.4%. The market showed varying growth across price tiers, with luxury homes rising 3.0%, starter homes up 2.7%, and mid-tier properties increasing 1.2%.

Nationally, house prices stabilized after nine months of deceleration, showing a 3.8% year-over-year increase despite a slight monthly decline of 0.05%. Among major markets, Anaheim, California led with a 7.0% annual increase, while Tampa, Florida experienced the largest decline at -1.5%.

First American Data & Analytics reports that home prices in the New York-Jersey City-White Plains market increased by 4.4% year-over-year in October 2024, despite a -0.4% month-over-month decline. The national Home Price Index showed a 3.8% annual increase, with a slight -0.05% monthly decrease.

Price growth varied across market segments, with starter homes in the region seeing a 7.7% increase, mid-tier properties rising 7.2%, and luxury homes growing by 1.8%. Among major markets, Nassau County, N.Y. led starter-tier growth at 8.9%, while Tampa, Florida showed the largest decline at -1.5%.

Houston-The Woodlands-Sugar Land home prices increased by 2.4% year-over-year in October 2024, with a month-over-month growth of 0.5%. The national Home Price Index showed a 3.8% year-over-year increase, while experiencing a slight decline of -0.05% month-over-month.

In the Houston metro area, price growth varied across segments: starter homes rose by 1.5%, mid-tier properties by 3.5%, and luxury homes by 3.7%. Chief Economist Mark Fleming notes that national house price appreciation has stabilized, ending a nine-month deceleration streak. Despite mortgage rates rebounding in October, house price growth appears headed toward a balanced pace for the remainder of 2024.

First American Financial (NYSE: FAF), a leader in title, settlement and risk solutions for real estate transactions, has announced its participation in the Stephens Annual Investment Conference. The company will engage in a fireside chat session in Nashville, Tennessee on Tuesday, Nov. 19, 2024, at 9 a.m. EST. Interested parties can access a live webcast of the discussion through First American's investor website, with replay availability for 90 days after the event.

First American Financial (NYSE: FAF), a provider of title, settlement and risk solutions for real estate transactions, has announced a quarterly cash dividend of 54 cents per common share. The dividend will be paid on December 16, 2024, to shareholders of record as of December 9, 2024. The company continues its commitment to shareholder returns through its regular dividend program.

First American Data & Analytics announced that Chris Flynn, head of product & strategy, has been named one of HousingWire's 2024 Tech Trendsetters. Flynn was recognized for leading important product and strategy initiatives, including the launch of the Procision™ AVM Suite, CovenantGuard™, and enhancements to FraudGuard®. Under his leadership, the company introduced the First American Data & Analytics House Price Index (HPI) Report, which provides nationwide home price data up to four weeks ahead of other major indices and uniquely segments price changes by starter, mid-tier, and luxury single-family homes.

First American Mortgage Solutions announced that Nicki Todd, senior vice president of technology, has been recognized as one of HousingWire's 2024 Tech Trendsetters. This award acknowledges the most influential and innovative technology leaders in the housing economy. Todd was selected by HousingWire's committee for her significant contributions to both First American and the broader housing industry, particularly in developing solutions for mortgage lenders' needs.

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings of 'a' (Excellent) for First American Title Insurance Group (FATIG). The ratings agency also affirmed the Long-Term ICR of 'bbb' (Good) for First American Financial (FAF). The outlook remains stable. The ratings reflect FATIG's strongest balance sheet strength, adequate operating performance, and appropriate enterprise risk management. As the second-largest title insurance underwriter in the U.S., FATIG maintains solid market position despite challenging macroeconomic conditions with rising interest rates and real estate sector slowdown.