With the onset of the COVID-19 Pandemic, the first quarter of 2020 marked an important turning point in the economy and housing market. Instead of our usual format, this edition of the first-time homebuyer report covers both the Q1 market and developments in April and May. The first-time homebuyer market started the year strong with […]
Author Archive for: Tian.Liu
About Tian Liu
Tian Liu is the Chief Economist at Genworth Mortgage Insurance, responsible for tracking U.S. and regional economic trends. He also authors the company’s Weekly Economic Report, and provides regular updates on U.S. and regional economies, as well as the housing and mortgage market.
Mr. Liu began his economics career in the Australian Treasury Department in 1997. He started covering the U.S. housing market with Cemex in 2007, where he was the Director of Economics responsible for economics and housing market analysis supporting the senior management of Cemex U.S. operations. He was hired by Owens Corning to lead its economics team in 2011. Mr. Liu joined Genworth Mortgage Insurance as its Chief Economist in 2014.
Mr. Liu has a Masters in Economics from the University of Chicago and an undergraduate degree in Economics from the Australian National University. He resides in Raleigh, North Carolina, with his wife and two children.
Entries by Tian Liu
4TH QUARTER 2019 – SUMMARY OF FINDINGS In this edition of the First-Time Homebuyer Market Report, we’ll take a look at the following dynamics from the fourth quarter of 2019: The first-time homebuyer market was very active in Q4, finishing another historically strong year. The number of first-time homebuyers showed strong year-over-year growth, at a […]
KEY MARKET INDICATORS as of Oct 07, 2019 September Job Market Report The U.S. job market continued to show slower growth in September, adding 136,000 jobs. For the year to date, the U.S. economy has added an average of 161,000 jobs a month, the slowest pace of growth since 2016. The job market continued to […]
2ND QUARTER 2019 – SUMMARY OF FINDINGS This edition of the First-Time Homebuyer Market Report covers three trends in the first-time homebuyer market in Q2’19. First, there was not a quick rebound in the first-time homebuyer market, and sales to first-time homebuyers continued to show a moderate decline. This came as a surprise because the […]
KEY MARKET INDICATORS as of Sept 24, 2019 Inventory and Price in the Housing Market Inventory and price have a tight relationship in the housing market. Lower inventory generally leads to faster home price growth. One way to see which way housing inventory is moving is by looking at year-over-year changes in the months of supply […]
KEY MARKET INDICATORS as of Sept 09, 2019 August Job Market Report This month’s job market data shows the extent of the slowdown in the economy since late-2018. The economy added 130,000 jobs on net in August, representing an year-over-year growth rate of 1.4%. That is 0.4 percentage point below the growth between September 2018 […]
KEY MARKET INDICATORS as of Aug 27, 2019 Better Home Sales, But Homebuilders More Cautious This month’s housing data reflects the many cross currents in the economy. Lower mortgage rate is having a significant impact on housing affordability and is bolstering housing demand. Existing home sales reached its highest level since February, coming in at […]
KEY MARKET INDICATORS as of July 02, 2019 A Moderate Housing Rebound While the Federal Reserve left the short-term rate unchanged at its June meeting, the 30-year conventional mortgage rate has already reacted to the slowdown in the global economy and rising uncertainties, falling by a total of 120 basis points since last November. The […]
KEY MARKET INDICATORS as of June 17, 2019 May Job Market Report The U.S. job market disappointed in May, adding 75,000 jobs. Job growth for the previous two months were revised lower as well. For the year to date, job growth averaged 164,000 a month, which is well-below last year’s pace. This points to a slower […]
KEY MARKET INDICATORS as of June 03, 2019 Long-Term Interest Rates Lower Again Interest rates headed lower again last week. The yield on 10-year Treasuries fell by 20 basis points to 2.12%, while the 30-year conventional mortgage rates fell below 4% for the first time since January 2018. Increasingly, investors expect the Federal Reserve to […]
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