Americans bought homes last month at the fastest pace in nearly eleven years. According to the National Association of Realtors, sales of existing homes climbed 5.6% in November. They reached a seasonally adjusted annual rate of almost six million units.
The last time home sales were this strong was in December of 2006, when properties sold at an annual pace of 6.4 million. Some of the factors that are driving this boom are the strengthening economy and rise of millennials getting into the housing market.
In other real estate news, the average size of the American home is getting bigger. According to real estate company Zillow, 44% of baby boomers live in houses larger than 2,000 square feet.
As the last members of the baby-boom generation become empty nesters, demand is growing for dual-purpose homes. Boomers are looking to remodel so that their homes comfortably fit a couple, but can also accommodate children and grandchildren when they visit for extended periods.
Full Glass Wine Co., the company behind Bright Cellars, Wine Insiders, and Winc, knows you fell in love with home delivery during the pandemic – and it’s investing millions into making it even better.
It might sound counterintuitive, but the Fed cutting interest rates three times this year could cause inflation to spike and actually be worse for markets and the economy as a whole.
Imagine a world with just a handful of mediocre beer options. Terrible, right? That was the U.S. before the explosion of craft breweries, the Samuel Adams founder says.
March was a blockbuster month for jobs, with 303,000 new positions – and paired with slower wage growth, an economist and a portfolio manager agree this could be the ‘best of both worlds.’
