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FastFact: Housing Remains Strong
September 21,
2015 by in Economic News, Industry 
The recovery of the housing industry is in full swing.
For the last two years, the market has been growing strong – with increases seen in the sales of existing houses as well as the building of new homes. The future seems to be bright for the industry: as more and more millennials come of age to start buying homes, the next 10-20 years looks incredibly bright for housing.
But the sharp rise in housing has been accompanied by an equally drastic rise in the price of homes, up 32 percent from 2009 to 2014. This increase has pushed a large number of people, especially millennials, to stay in for-rent properties instead of purchasing a home.
This has driven the cost of rent up for most of the country, with the national average monthly rent jumping 19 percent in five years - from $1,042 in 2010 to $1,239 in 2015.
Read the entire FastFact online.