Even with record-high appreciation of homes and soaring number of new households, there’s good news for those searching to buy or rent a home in today’s Home News.
Business News
Two-thirds of the top 100 housing markets have had record-high appreciation rates during the past year, according to the Joint Center For Housing Studies of Harvard University report.
Home News
The number of new households has risen sharply, at an annual rate of 1.6 million households for the past two years, which is faster than the Joint Center for Housing Studies of Harvard University’s projection of 1.2 million.
Why the rise in households? Many Millennials had delayed living on their own, but with the low unemployment rate and income gains, they were able to strike out on their own.
Construction News
Even with the labor shortage and increase in costs for building materials, more homes are being built than in the last 50 years.
The increase in supply should also help contain home prices and rents for those Millennials setting up households.
