CNN Money gives the American housing market a B+ grade after years of flunking, thanks to the highest level of new home sales since 2008 this August, and to the increase in both homebuilder confidence and mortgage applications.
Moreover, data released Tuesday shows that housing starts are now at the fastest pace since the recession. “But today’s real estate market is a very different place than before the recession,” CNN Money reports. “American home buyers are getting older and homes are getting bigger.”
Data from Zillow revealed that the median age of a homebuyer has gone up from 39 in 2005, during the housing boom, to 43 today. "People are delaying things that pre-date homeownership -- like getting married later and having children later," Skylar Olsen, senior economist at Zillow, tells CNN Money.
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