First American: Housing market barely underperforms full potential

The potential for home sales dropped slightly in March and the market is almost meeting that potential, according to the Potential Home Sales model from First American Financial Corp., a provider of title insurance, settlement services and risk solutions for real estate transactions. Potential existing-home sales decreased to a 5.5 million seasonally adjusted, annualized rate in March, down 1.2% from February, according to the model. However, the potential for sales is up 0.6% or 31,000 sales from March 2016.

Source: Housing Market

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