It’s been over six years since house prices hit their trough and the housing market bottomed out. Since then, house prices have recovered nationally and reached historic highs. The price recovery has most recently been driven by a supply shortage. The availability of homes for sale is running near historic lows because single-family housing...
As we enter 2019 and the bulk of the millennial generation ages into their prime home-buying years, is homeownership an attainable New Year’s resolution for millennials?
Topics: Millennials, homeownership, Homeownership Progress Index, Education, Insider
Yesterday, the Census Bureau released its Residential Construction report for November. Housing completions decreased 3.9 percent compared with last November and continue to fall short of the number of new housing units necessary to keep pace with household formation. Housing starts also decreased 3.6 percent in November compared with a year...
Topics: Housing, homeownership, housing starts, Insider
In November, the housing market underperformed its potential by 7.4 percent, marking 40 straight months the market remained below its potential, according to our Potential Homes Sales Model. Month over month, the gap between actual existing-home sales and the market potential for home sales narrowed by 1.2 percent, but the housing market still...
Topics: Potential Home Sales, Interest Rates, homeownership, Federal Reserve, Insider
Millennial demand for homeownership was one of the biggest trends influencing the housing market in 2018. Households under 35 years old contributed the most to overall homeownership growth in the third quarter of 2018, with millennial homeownership rising 1.2 percentage points from last year. This trend shows no indication of reversing in 2019....
Topics: Millennials, homeownership, Homeownership Progress Index, Insider
Yesterday’s Census Bureau report for October indicated that we are falling short of adding homes to the market in the short-term, as completions decreased 6.5 percent compared with October of last year.
Topics: Housing, housing starts, homeownership, Insider
