First American: America’s home buying power strengthens in February

In February, home prices declined 2.9% year over year, pushing consumer home buying power 2.4% higher than its 2018 levels. Notably, First American Chief Economist Mark Fleming said the first quarter of 2019 has been friendly to potential homebuyers, as declining mortgage rates, ongoing household income growth and moderating unadjusted home prices have boosted affordability.