Data from Trulia suggests the housing market is about three-quarters of the way back to “normal,” Construction Dive reports.
These findings are based on Trulia’s Housing Barometer, which analyzes existing home sales, home prices, the delinquency and foreclosure rate, new construction starts, and the employment rate among young adults.
Young adult employment, which was was less than half way back to pre-recession level and the weakest among these indicators, is a significant factor in the recovery. “Young adults need jobs in order to move out of their parents’ homes, form their own households, and eventually become homeowners,” says Trulia Chief Economist Jed Kolko. “For those reasons, the housing recovery depends on millennials getting jobs.”
Read more at Construction Dive.
Related Stories
How to Get More Leads with a Stronger Remodeling Brand
Discover how to build a strong brand for your construction company, and learn key strategies to differentiate and attract better leads
How to Increase Your Odds of Closing Remodeling Sales
Use these tips to hone your sales process and grow close ratio
Building A Small Projects Division from the Ground Up
Through hard work and careful strategy, Harth Home Services has seen big growth
A Mindset of Serving Others
A research study shows surprising results about what makes us take ownership of our work.
10 Questions to Identify Sales Weaknesses
Mark Richardson runs you through a proper fitness check-up—for you and your sales team, that is.
How to Communicate with Today's Cautious Remodeling Client
Amid economic skepticism, Americans continue to spend. Now, how can you get them to spend on remodeling?
7 Tips to Lower Remodeling Costs
As material and labor prices spiral out of control, many homeowners are putting the brakes on remodeling projects. Use these guidelines to bring down costs.
How to Ease Client Fears and Take Control of the Remodeling Process
Industry advisor Mark Richardson offers seven ways to control your client's fantasy of remodeling and, ultimately, minimize their fears and enhance their understanding
3 Things I Learned from a Day with Normandy Remodeling
How Normandy uses numbers to motivate and the power of their showrooms
Today’s Consumer is Your Biggest Competitor
Understanding the real competitor allows you to sharpen the correct skills