After years of flunking, the American housing market finally merits a B+ grade.
Good news abounds: In August, new home sales are at their highest level since 2008. Homebuilder confidence is back to its best level in a decade and even mortgage applications are climbing again. And data released Tuesday shows construction crews are starting on homes at the fastest pace since the recession. Put all that together and the housing market is finally starting to be a real boost to the U.S. economy — and stock market — instead of a drag. But today’s real estate market is a very different place than before the recession. American home buyers are getting older and homes are getting bigger.