By 2035, more than one in five people in the U.S. will be aged 65 and older and one in three households will be headed by someone in that age group, according to a report released by the Harvard Joint Center for Housing Studies.
The U.S. homeownership rate has slowly fallen in recent years to currently its lowest level since 1965, but new research from the National Association of Realtors (NAR) reveals that there are affordable metro areas right now with above-average hiring and a large segment of current renters who earn enough income to qualify to buy a home.
The millennial generation is poised to make a significant impact on home design with their strong preferences for energy efficiency and smart home technology; comfortable, workable kitchens and more casual spaces, according to speakers from the National Association of Home Builders (NAHB) and Better Homes and Gardens' press conference on housing preferences for millennials, Gen X, boomers and seniors at the NAHB International Builders' Show in Las Vegas.
Despite an improving job market and low interest rates, the share of first-time buyers fell to its lowest point in nearly three decades and is preventing a healthier housing market from reaching its full potential, according to an annual survey released by the National Association of Realtors (NAR).
Pending home sales slowed modestly in August but contract signings remain at their second-highest level over the past year, according to the National Association of Realtors.
Led by a steep 31.7 percent decline in multifamily production, nationwide housing starts fell 14.4 percent to a seasonally adjusted annual rate of 956,000 units in August, according to newly released figures from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Builder confidence in the market for newly built, single-family homes rose two points to 55 on the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) for August. This third consecutive monthly gain brings the index to its highest level since January.
With the exception of millennials, the majority of U.S. homeowners (66%) who are remodeling plan to stay in their home for the long term, according to the third annual Houzz & Home survey with more than 135,000 respondents in the U.S. among the 190,000 respondents globally.
The health of housing is key for the overall state of the U.S. economy and housing stands poised to serve as an engine of job growth with the right policies in place, the National Association of Home Builders (NAHB) told Congress.
Builder confidence in the single-family 55+ housing market for the first quarter of 2014 is up year over year, according to the National Association of Home Builders' (NAHB) latest 55+ Housing Market Index (HMI).
