August 19, 2024 Market Moment

Market Moment

Glen Eagle®: America’s Women-Owned Trading Desk®  

8/19/2024

• U.S. households are expected to spend 1.7% less on back-to-school shopping in 2024, with spending dropping to $875 from just over $890 in 2023. Despite this slight decline, back-to-school spending has risen nearly 81% since 2004. 1
• Homes valued at $1 million or more now make up 8.5% of all U.S. homes, a record high. This more than doubles the 4% before the pandemic. The increase reflects the surge in home prices nationwide, with the median home sale price reaching a record $442,525 in June. 2
• A 65-year-old retiring this year is expected to spend an average of $165K on healthcare and medical expenses throughout retirement. This amount, which excludes over-the-counter medications and long-term care, has more than doubled since 2002. 3
• Since the end of the 2008 financial crisis, the U.S. has built about 17 million homes. This is 20% fewer than in the 14 years prior, despite a 9% growth in the U.S. population since 2009. This underdevelopment has left the country short by about five million homes. 4

1. MFS- "Beyond the News"
2. WSJ - "The Share of Million-Dollar Homes in America Just Hit an All-Time High"
3. Fidelity - "Fidelity Investments® Releases 2024 Retiree Health Care Cost Estimate as Americans Seek Clarity Around Medicare Selection"
4. Barrons - "Why D.R. Horton Is the Home Builder Stock to Buy Now"

*Past performance is not indicative of future performance

Client Focused Trading® for large institutions, pensions, hedge funds, wealthy families, and private equity for over 30 years. 

Glen Eagle Wealth, LLC is a member of FINRA and SIPC 

This desk commentary is for informational purposes only 

Carol Ann Fernandez, Rob Michel, Grier Vacek 

(609) 631-8231 

www.gleneagleadv.com 

Glen Eagle Wealth, LLC | 4422C Route 27, PO Box 399, Kingston, NJ 08528-0399 

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