The MReport Webcast: Monday 8/4/2014

As homeownership keeps slipping among young American adults, real estate analysts expect the makeup of first-time homebuyers could look very different over the next 10 years. In a quarterly survey conducted by Zillow and Pulsenomics, a panel of economists and real estate experts agreed that the median age of first-time homebuyers is likely to keep moving up in the next decade as millennials wait until later in their lives to purchase. The panel's predictions come at a time when homeownership in the United States is hovering at a near 20-year low, with the biggest declines coming among younger and early middle-aged Americans.

Among the more than 100 experts polled, 61 percent said they expect the median first-time homebuyer age to rise marginally in the coming years, reaching 32 or 33 by 2024. Another 24 percent say that figure could climb even higher, rising to 34 years or older. The typical first-time homebuyer in 2013 was 31 years old, according to the National Association of Realtors.

Spending on residential construction was mixed in June, according to the latest figures released by the Census Bureau. Overall, the government estimates homebuilding outlays came to about $361 billion for the month, down 0.2 percent from May but up more than 7 percent from a year ago. In the private sector, spending slipped slightly over the month, weighed down by a decline in new single-family construction. Meanwhile, public residential construction gained momentum from May, rising 6.3 percent. With new home sales on the decline, the direction that future construction activity might take remains to be seen.