Housing Market News
The national housing market is showing mixed reviews. Here are some findings that were discussed in the video above:
* 19 out of 20 cities showed slower annual returns in July.
* Existing and pending homes sales slowed down.
* Home prices continue to be two or three times higher than the rate of inflation.
* August new home sales best in six years.
* The National Index of Home Prices are up for seventh straight month.
* S&P/Case Shiller 1-year change for Boston housing market up 5.7%
Decline in homeownership for individuals under 35
Homeownership among young adults fell sharply during the last housing bust. Homeownership rate for those under 35 declined by 11% between 1980 – 2012. Compared to only 1% to the overall homeownership during the same period. For more information review the housing study below.