New Home Sales, 18 to 34 year olds living at home, Memorial Day
May 24, 2016
Tuesday – May 24
The Commerce Department reported that New Home Sales surged by nearly 17% in April to an annual rate of 619,000, well above the 521,000 expected. The 619,000 was up from the 531,000 in March, which was revised higher from 511,000. New Home Sales are now at the highest level since January 2008, and April was the largest monthly percentage increase in 24 years. Sales were up almost 24% from April 2015. The New Home Sales report shows the number of newly constructed homes with a committed sale during the month.
According to a Pew Research Center Analysis of U.S. Census Bureau, in 2014, Americans aged 18 to 34 years old were more likely to be living in their parents’ homes than with a spouse or partner. This is the first time this has occurred in the US. in more than 130 years. To break it down by further, young men are more likely to be living with parents than females … 35% for men, 29% for women. One noted authority on the subject says that it is an “increasing acceptance that it takes longer to grow up than it used to.”
With Memorial Day weekend upon us, Americans will hit their favorite beach, campground or national park with friends and family and may partake in adult beverages. A recent study showed that global alcohol sales have declined for the first time in 15 years, with one exception, the U.S. And where it is just a small decline, it is the first time sales have declined since having consistently climbed every year since 2001, reports research firm Euromonitor International. One of the biggest reasons was not a change of taste, but it is due to economic reasons.