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First American Financial's Mark Fleming Volume, rather than pricing, is behind a slight decline in title agent expectations, Fleming says.

SANTA ANA, CA—First American Financial Corp. said Tuesday that its Real Estate Sentiment Index for the first quarter, covering title agents’ expectations for both residential and commercial property types, decreased 4.4% from Q4 of 2015. Quarter over quarter, purchase market sentiment across all property types declined 4.2% and refinance mortgage sentiment across all property types declined 4.9%. However, the RESI survey also found greater optimism across all sectors in the outlook for growth in purchase transaction volumes over the next year.

Expectations of market production, combining title agent expectations for transaction volumes and price changes over the coming year, declined 1.8% from Q4. While the overall expectation for price growth increased to 4.6% across all property types, expectations for production volume declined for purchase and refinance transactions.

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.

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