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.
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