First American Financial Corporation - FAF STOCK NEWS

First American Data & Analytics released its May 2024 Home Price Index (HPI) report, indicating a 2.5% year-over-year increase in home prices for the Dallas-Plano-Irving area. Nationally, the HPI rose 5.9% year-over-year. However, from April to May 2024, the Dallas-Plano-Irving market saw a 0.4% month-over-month decline in HPI, while the national HPI increased by 0.5%. The HPI report tracks price changes at various levels, including starter, mid, and luxury tiers. The report also highlighted the 'Five D's'—diapers, diplomas, divorce, downsizing, and death—as key factors driving homeowners to sell despite high mortgage rates. Nassau County, NY, led in starter tier HPI growth with a 14% increase, while Anaheim, CA, topped overall HPI growth at 10.5%. The report is based on over 46 million paired transactions and includes data from non-disclosure states using MLS listings and appraisal data.

First American Data & Analytics, a division of First American Financial (NYSE: FAF), released its May 2024 Home Price Index (HPI) report, indicating a 5.6% year-over-year increase in home prices in the New York-Jersey City-White Plains metro area. Nationally, home prices rose by 5.9% over the same period. The report highlights the normalization of house price appreciation due to higher mortgage rates and increased home listings, with 'Five D’s' (diapers, diplomas, divorce, downsizing, and death) driving sales despite challenging affordability. Starter-tier home prices in the New York area surged by 10.1% year-over-year, outperforming mid and luxury tiers.

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%).

ACI, a leading provider of workflow solutions for the valuation industry, announced the integration of Restb.ai's AI and computer vision technology into its ACI Sky platform.

This integration aims to automate the appraisal quality control process by detecting discrepancies in appraisal data and ensuring images are edited to remove personal details. Restb.ai's technology also assists in analyzing property conditions from photos, reducing appraisal revisions and saving time and costs.

ACI Sky, leveraged through dynamic PAR® Logic rules, has reviewed over 6 million appraisals nationwide. This collaboration enhances ACI’s solutions and improves efficiency in the appraisal process.

First American Financial (NYSE: FAF), a leader in real estate title and settlement solutions, announced a quarterly cash dividend of 53 cents per common share.

The dividend will be payable on June 17, 2024 to shareholders recorded as of June 10, 2024.

The First American Data & Analytics April 2024 Home Price Index (HPI) report reveals a year-over-year home price increase of 4.9% in the Houston-The Woodlands-Sugar Land area. Nationally, home prices rose by 6.1% over the same period. Chief Economist Mark Fleming attributes this to increased housing supply and decreased affordability due to higher mortgage rates, leading to a cooling trend in price appreciation. The report segments home prices into starter, mid, and luxury tiers, with starter homes showing the highest appreciation. Specific metro areas like Pittsburgh, Miami, and St. Louis saw double-digit increases in starter home prices. The next HPI release is scheduled for June 2024.

First American Data & Analytics released its April 2024 Home Price Index (HPI) report, showing that home prices in the New York-Jersey City-White Plains, NY-NJ metro area increased by 4.6% year-over-year, despite a 1.2% month-over-month decline.

Nationally, home prices rose 6.1% year-over-year and 0.5% month-over-month. Chief Economist Mark Fleming attributes the cooling trend in price appreciation to increased home listings and higher mortgage rates.

In the New York metro area, starter-tier home prices jumped 9.9%, mid-tier prices rose 7.4%, and luxury-tier prices saw a modest 1.1% increase.

Nationally, starter homes saw the highest price appreciation, with cities like Pittsburgh, Miami, and St. Louis experiencing double-digit growth. The next HPI report will be released the week of June 17, 2024.

First American Data & Analytics released its April 2024 Home Price Index (HPI) report, revealing a 0.5% month-over-month increase and a 6.1% year-over-year rise in national home prices. National prices are now 53% higher than pre-pandemic levels. Chief Economist Mark Fleming noted that while the supply of existing homes has increased, higher mortgage rates have weakened affordability, reducing demand and cooling price appreciation. The report highlights significant price growth in starter homes, particularly in St. Louis, Miami, and Pittsburgh. Key metropolitan areas with notable year-over-year HPI increases include Anaheim, Miami, and San Diego.

First American Data & Analytics released its April 2024 Home Price Index (HPI) report. The Los Angeles-Long Beach-Glendale area saw a 4.3% year-over-year increase in home prices. Nationally, the HPI rose by 6.1% from April 2023 to April 2024. The report segments prices into three tiers: starter, mid-tier, and luxury. In Los Angeles-Long Beach-Glendale, starter homes saw a 4.6% increase, mid-tier homes rose by 6.5%, and luxury homes by 4.0%. Chief Economist Mark Fleming noted that higher mortgage rates are cooling price appreciation, with the month-over-month growth rate peaking in February 2024 at 1.3% and then slowing. This trend is expected to continue in the coming months.