Up until the ‘90’s families moved on an average every 7-yrs. The average slowly changed to an average of every 4-yrs. Due to this recession, families will not be moving anytime soon – especially if they have established their “home”!
Women over the age of 18 – 50% are not married – highest % ever tracked
Those in the age group of 25 to 34 who are not married grew from 34.5% in 2000 to 46.3% in 2009
First time home-buyers = 31%, down from 38% in July
Investors = 21%, up from 19% in July
Cash sales = 28%, down from 30% in July
What are the current factors impacting the demand for housing?
• Unemployment
• Credit Standards
• Equity Losses
• Consumer confidence uncertainty
The following graph shows the demand for home resales during a three month period in 2010. The resale number has remained low going into the 4th quarter which is typically a slow real estate period. New housing starts have remained consistently low over the same period of time.
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