Relevant:
- US October existing home sales down 1.2 pct to 4.97 mln vs 4.95 mln expected
- The four corners of the California housing market -- Household formation, price dynamics, home sales, and the illusive foreign buyer.
- Existing-Home Sales Unexpectedly Rise; Confidence Unexpectedly Falls
- Another Sign Bottom is Behind, House Sales Contracts Rise 14%
- Behind The New Home Sales Data: A Darker Backdrop
2013-12-05 — usatoday.com
New home sales rose 25% in October, suggesting that a critical sector of the economy is continuing to gain strength as the end of the year approaches.
...
The question mark is when household formation will rebound, after an extended shortfall, Levenson said. The number of households has historically risen by about 1.5% a year, as young people graduate from school or college and leave their parents' homes, according to Census data. That rate fell by two-thirds during the recession.
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