Photo of Mark Fleming Fleming: “Small changes in potential homeownership demand hide the large amount of variation in markets across the country.”

SANTA ANA, CA—The outlook for homeownership demand belies the slight year-over-year decrease in that demand, First American Financial Corp. said Thursday. Due in part to Millennials putting off marriage longer than their parents’ generation did, for the moment potential homeownership demand is off 6% from the pre-recession peak, and is now “at the same level as it was in 1990, 27 years ago,” says Mark Fleming, chief economist with First American.