econintersect.com
       
  

FREE NEWSLETTER: Econintersect sends a nightly newsletter highlighting news events of the day, and providing a summary of new articles posted on the website. Econintersect will not sell or pass your email address to others per our privacy policy. You can cancel this subscription at any time by selecting the unsubscribing link in the footer of each email.



posted on 07 June 2017

Three New Census Reports Give Insights On Housing Market Trends

from CoreLogic

-- this post authored by Molly Boesel

The U.S. Census released a treasure trove of data in April, including population by age, homeownership rates, and a report on the changing demographics of young adults. Taken together, these three reports give us insight into current and future housing market trends.

The Census release on 2016 population [1] reveals that the most populous age in the U.S. is 25 at almost 4.8 million people. The largest three age groups are 24 to 26, with 14.2 million Americans combined. Common wisdom would tell us that these young adults will be heading into the homeownership market soon [2]. In this year’s first quarter the homeownership rate [3] was 34.3 percent for households led by people under 35 (Figure 2). Although that’s lower than the rate for other age groups, applied to the sheer size of the young adult population it translates into large numbers of potential homebuyers.

Coming of age in the time of the Great Recession may have shaped the attitudes of young adults, and home affordability might stand in the way of young adults setting up households and buying their own homes. The new Census report titled “The Changing Economics and Demographics of Young Adulthood: 1975-2016" [4] discusses how reaching the milestones of young adulthood (those aged 18 to 34) has changed over the past 40 years. The report finds that compared with previous generations, today’s young adults delay moving out on their own, getting married, and having children. Delaying these life events may also mean delaying homeownership. Figure 3 contrasts the living arrangements of young adults in 1975 and 2016, showing that the percentage of young adults living with a spouse or unmarried partner has fallen from 58 percent in 1975 to 39 percent in 2016.

It is reasonable to expect that as these young adults age, they will take part in home buying, but we might need to wait until the most populous age cohort gets a little older before they ramp up their home buying.


[1] https://www.census.gov/newsroom/press-releases/2017/cb17-tps38-population-estimates-single-year-age.html

[2] According to the National Association of Realtors 2016 Profile of Home Buyers and Sellers, the median age of first-time home buyers is 32.

[3] https://www.census.gov/housing/hvs/data/q117ind.html

[4] https://www.census.gov/library/publications/2017/demo/p20-579.html

© 2017 CoreLogic, Inc. All rights reserved.

Source

http://www.corelogic.com/blog/authors/molly-boesel/2017/05/new-reports-explore-homeownership-rate-population-and-young-adults.aspx#.WScsT2jythE

>>>>> Scroll down to view and make comments <<<<<<

Click here for Historical News Post Listing










Make a Comment

Econintersect wants your comments, data and opinion on the articles posted. You can also comment using Facebook directly using he comment block below.




Econintersect Contributors








search_box
Print this page or create a PDF file of this page
Print Friendly and PDF


The growing use of ad blocking software is creating a shortfall in covering our fixed expenses. Please consider a donation to Econintersect to allow continuing output of quality and balanced financial and economic news and analysis.







Keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet
Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government





























 navigate econintersect.com

Blogs

Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day
Weather

Newspapers

Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government
     

RSS Feeds / Social Media

Combined Econintersect Feed
Google+
Facebook
Twitter
Digg

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution

Contact

About

  Top Economics Site

Investing.com Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2017 Econintersect LLC - all rights reserved