Business View - February 2015 21
preferences suggest growing housing demand in the
years ahead.”
Ninety percent of those born between 1980 and 1984
left home before the age of 27 – but then more than
half returned to their parents’ homes. Of that group,
those with a bachelor’s degree or higher had the high-
est share of returning to the parental home at 55.5
percent. Meanwhile, those born between 1980 and
1984 with a high school degree had the lowest share
returning to the parental home at 42.1 percent. When
looking at parental income, the research reveals that
parents in the top half of the income distribution ex-
perienced a higher occurrence of boomerang children
than those in the bottom half.
Another important difference is gender: 12 percent of
men in this age group never left the parental home,
whereas 7.6 percent of women stayed. And although
women are more likely to boomerang, they are also
more likely to leave again.
Studies continue to show that the desire to own a
home remains strong for these millennials. Despite
data showing that the age group is delaying household
formation, they remain a key demographic in the hous-
ing market, and the pent-up demand is expected to
translate into housing growth in the coming years.
Housing Markets Continue to Make Modest Gains
Markets in 63 of the approximately 350 metro areas
nationwide returned to or exceeded their last normal
levels of economic and housing activity in the fourth
quarter of 2014, according to the National Association
of Home Builders/First American Leading Markets In-
dex. This represents a year-over-year net gain of 11
markets.
The index’s nationwide score moved up slightly to .90,
meaning that based on current permit, price and em-
ployment data, the nationwide average is running at
90 percent of normal economic and housing activity.
Meanwhile, 69 percent of markets have shown an im-
provement year-over-year.
“The markets are improving at a consistent pace,” said
NAHB Chairman TomWoods, a home builder from Blue
Springs, Mo. “A growing economy and rising consumer
John Grau,
NECA’s CEO
CONSTRUCTION
