Dive Brief:
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The number of Americans who formed new households during the year that ended in March fell far short of average, the Census Bureau reported last week.
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The U.S. added 476,000 households during that time, compared with 1.3 million in each of the two prior years.
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Economists at Trulia said that although fewer 18- to 34-year-olds are living with their parents than a year ago, they did not form their own households. One explanation: The might be living with other family members or friends.
Dive Insight:
Leesburg, Va., housing economist Thomas Lawler called the growth in new households “disturbingly slow,” as steady household formation is a key driver of demand for housing, and housing sales are a key driver of economic recovery.