Components of the Housing Stock Total Stock119,297120,834122,187123,925126,012 Occupied104,965105,560106,588108,231109,575 Owner71,27872,05473,57574,55375,380 Renter33,68733,50633,01333,67834,195 Vacant14,33215,27415,59915,69416,437 For Sale1,2201,3081,3071,4511,836 For Rent3,3473,6763,8023,7213,737 2nd Homes6,3756,6266,7506,7907,034 Other3,3903,6643,7403,7323,830 Source: Census Bureau Housing Vacancy Survey

Live Births Echo Boom Baby Bust Baby Boom Data in Millions Source: HHS National Center for Health Statistics

Population Change by Age Sources: Census Bureau and NAHB Long Term Forecast Thousands

Foreign-born Share of Population by Age 2005 Current Population Survey (Census Bureau)

Mobility by Age: Moved in Previous 12 Months Source: Current Population Survey March 2004

Households With Second Homes by Age Survey of Consumer Finances (Federal Reserve Board)

Long Term Demand and Supply Demand: ∆ Households 1,398 1,211 1,182 1,502 ∆ Vacancies Net Removals ,768 1,633 1,835 2,014 Production: Single Family 1,030 1,042 1,273 1,447 Multifamily Manufactured ,768 1,633 1,835 2,014 Source: Census Bureau, NAHB Forecast

New Homes Started/Shipped ’06- ’15 Single Family1,7191,478 1,1631,230 1,447 Multifamily Total Starts2,0731,817 1,4551,528 1,846 Manf Homes New Housing2,2211,9361,5471,6332,014

Median Age of Housing Stock Years

2006: Chg in Employment v Starts/Pop Excluding Louisiana

2006: Chg in Population v Starts/Pop

Rental Vacancy Rates % to 8% 8.1% to 11% 11.1% to 13% 13.1% to 18% US: 10.2%

Rental Vacancy Rates % to 8% 8.1% to 11% 11.1% to 13% 13.1% to 15% US: 9.8%

Rental Vacancy Rates % to 8% 8.1% to 11% 11.1% to 13% 13.1% to 18% US: 9.7%

Starts per Capita to to 6.7 Less than or more US: 6.6

Starts per Capita to to 6.7 Less than or more US: 7.0

Starts per Capita to to 6.7 Less than or more US: 6.1

Starts per Capita to to 6.7 Less than or more US: 4.8

Starts per Capita to to 6.7 Less than or more US: 5.0

For more Housing Forecasts and In- Depth Analysis go to HousingEconomics.com