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Pent-up Demand for Homes Ready to Pop?

Posted By Wally Reule @ Jul 3rd 2014 7:59pm In: Sedona Real Estate Market News

Since the recession, household formation dropped to one percent of the national population. Compare that to the 2.3% annual growth of the 1970's, when 78 million Baby Boomers reached adulthood. But considering that the leading age of the largest generation ever - 81 million Echo Boomers -- is now over 30, the numbers should be closer to those we experienced way back then.

The National Association of Home Builders said about 2.1 million households delayed formation due to the recession.  Pent-up demand for housing should increase sales levels and continue to drive prices higher.

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