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According to the National Association of Realtors' Pending Home Sales Index, April exhibited the highest number of contract signings in nearly nine years. April was also the fourth straight month of increases in pending home sales, which were up 3.4 percent month-over-month and up 14 percent above April 2014 levels, the largest annual increase since September 2012.

Good news for the already positive housing market! New home sales rose more than expected in April, reaching a seasonally adjusted annual rate of 517,000 units (up 6.8%). Sales in March were also adjusted up, from 481,000 to 484,000 units. This increase was driven by the Midwest, where sales reached a seven-year high after rising 36.8%.

Another encouraging sign was that the median price for a new home increased 8.3% from this time last year to $297,300. This gain in home equity is seen as a positive omen for consumer spending.

Source: New home sales, prices rise strongly in April

According to a new article from The Harvard Joint Center for Housing Studies, households consisting of a single person make up 28% of all households in the United States as of 2013, trailing only married couples without minor children (29 percent). Compare this figure to 1940, when single-person households only accounted for 7.8% of households in this country, and the startling shift in living arrangment becomes clear. Furthermore, the majority of these households now consist of women, whereas they traditionally consisted mostly of men. A number of factors are likely contributing to this change, including higher divorce rates, greater financial independence for women, and later age of marriage. Continue reading to learn more!