Median US homebuyers age in 1981 was just 31. Today it is 47 The rise since the financial crisis is particularly noteworthy. This is driven by an aging population, affordability, higher student debt levels, and tighter mortgage lending standards for young people and individuals with lower credit scores. All these forces have also contributed to … Continue reading Median Homebuyers Age
Shanghai Home Sales Plunge 86% in Golden Week. Golden Week, a seven-day Chinese holiday, is traditionally a peak period for home sales. This year, sales plummeted. Sales of new homes in Beijing dropped to their lowest level since 2014 during the week following the National Day holiday. Beijing faces the dilemma of all speculative markets: … Continue reading Shanghai Home Sales
Existing home sales came in at 5.34M, seasonally adjusted annualize, topping the consensus estimate of 5.28M. This was a good report. The term good is relative. Sales are still down year-over-year as well as year to date.