The United States Census Bureau compiles data on households through the Current Population Survey, a joint project with the U.S. Bureau of Labor Statistics. Based on the latest data, there were 124.5 million households in the U.S. in 2015. The number of households in 2015 was 0.5 percent higher than in 2014.
Household formation (HHF) is an important driver of real estate demand, both for single and multifamily properties. Household formation averaged 1.3 million every year over the 1958-2007 period. Between 2008 and 2013, the average number of new households dropped to 579,000 per year, underscoring the severity of the Great Recession and ensuing slow recovery. In 2014, net HHF jumped to 2.2 million, as employment growth encouraged more young people to strike it on their own. In the second quarter of 2015, HHF continued the upward trends with the addition of 480,000 new households.
read the entire article here: http://economistsoutlook.blogs.realtor.org/2015/09/25/baby-boomers-lead-recent-household-formation/