Mortgage Industry News
« Return to Mortgage Industry News
Homeownership Rate Still Barely Budging
Friday, January 31, 2020
The homeownership rate seems stubbornly
stuck only a few percentage points from where it bottomed out in the second quarter
of 2016. The U.S. Census Bureau said the national rate in the fourth quarter of
2019 was 65.1 percent compared to 64.8 percent in both the prior quarter and the
fourth quarter of 2018. The rate declined from a high of 69.0 percent in the
third quarter of 2006 until reaching a low of 62.9 percent almost four years
ago.
The homeownership rate among the youngest Americans,
those under the age of 35, increased by 1.1-point year-over-year to 37.6 percent.
The rate gained a fraction of a point among all other age groups except those
35 to 44 years of age. Their rate declined from 61.1 percent in the fourth
quarter of 2018 to 60.4 percent.
Read Full Article