Harvard University’s Joint Center for Housing Studies this week released its annual report on housing.
Ten key findings from 2013 data:
1. Home values rose in 97 of the 100 largest metro areas, up from 73 metros where they rose in 2012.
2. Cumulative price declines from 2006-2013 were three times more severe in minority neighborhoods than in mostly white neighborhoods.
3. Though up more than 18 percent from 2012, the 925,000 housing units started in 2013 was well below the
historical average of 1.46 million.
4. Single family construction rose 15 percent (618,000), while multifamily construction gained 25 percent (307,000).
5. For-sale inventories averaged 2.1 million in 2013, 600,000 below the average in 1999-2013.
6. The number of single-family homes rented during 2006-12 increased by 3.2 million, roughly twice the number of new
apartments added.
7. The share of new units built as rentals reached its highest level since 1974.
8. Households would need to earn at least $42,200 a year to afford the $1,052 median monthly gross rent for new units
built in the past four years — well above the income of the typical renter.
9. More than 15 million adults in their 20s and 3.1 million in their 30s lived in their parents’ homes in 2013.
10. In 2015–25, demographic forces will drive growth in the number of households of 11.6 million to 13.2 million.
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