First American Financial Corporation - FAF STOCK NEWS

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.

The April 2024 Home Price Index (HPI) report by First American Data & Analytics shows a 3.4% year-over-year increase in home prices in the Dallas-Plano-Irving area. Nationally, home prices rose 6.1% year-over-year. The rising mortgage rates due to the Fed's 'higher-for-longer' policy have cooled down price appreciation. Month-over-month growth rates peaked in February but have since declined. The starter tier saw a 4.8% increase, mid-tier 3.1%, and luxury tier 4.0%. Notably, cities like Pittsburgh, Miami, and St. Louis experienced double-digit annualized price increases in starter-tier homes, with Pittsburgh leading at 12.1%.

Mother Lode Holding Company, a California-based provider of title insurance, underwriting, and escrow services, announced the acquisition of Wisconsin Title Service Company, Inc., expanding its presence in Wisconsin. The acquisition includes sister company Wisconsin Title Closing Service, Inc., as well as title plants in key counties.

First American Financial announced that Senior Commercial Real Estate Economist Xander Snyder won HousingWire's 2024 Rising Stars Award. Snyder was recognized for his data-driven analysis of economic and commercial real estate market trends, contributing to First American's industry leadership.

First American Financial (NYSE: FAF) reported first-quarter 2024 financial results with earnings per diluted share of $0.45, total revenue of $1.4 billion, and a 1% revenue decline compared to the previous year. The company highlighted challenges in the real estate and mortgage industries due to elevated mortgage rates and low inventory levels. Despite these challenges, they expect modest revenue growth for the year. First American was recognized as one of the 100 Best Companies to Work For by Great Place to Work® and Fortune Magazine for the ninth consecutive year.

First American Data & Analytics reports a 3.3% year-over-year increase in Dallas-Plano-Irving home prices in March 2024, with a national HPI growth of 6.2%. Chief Economist Mark Fleming predicts a 'higher-for-longer' mortgage rate environment to slow down house price appreciation. The report also highlights year-over-year price-tier data for different metro areas, with starter home prices facing upward pressure nationally.

First American Data & Analytics reports a 4.2% year-over-year increase in home prices in the Los Angeles-Long Beach-Glendale area in March 2024. The national house price growth continues to cool, with a 6.2% year-over-year increase. Chief Economist Mark Fleming predicts a 'higher-for-longer' mortgage rate environment, slowing house price appreciation. Starter home prices are facing upward pressure nationally, with significant increases in Nassau County, N.Y., Pittsburgh, Miami, and New York.