More Americans Are Homeowners In 2018

Dated: 04/27/2018

Views: 120

More Americans Are Homeowners in 2018

DAILY REAL ESTATE NEWS | FRIDAY, APRIL 27, 2018

Over the last year, more Americans became homeowners as the number of renters continued to decrease. The homeownership rate in the first quarter was unchanged at 64.2 percent, higher than last year’s 63.6 percent, the Census Department reported Thursday. This is also the fifth consecutive quarter of yearly increases in the ownership rate. 

The homeownership rate has been gradually climbing back since hitting a 50-year low in 2016. The rate peaked in 2004 at 69.2 percent, but despite recent climbs, it still remains below the 25-year average rate of 66.3 percent. Meanwhile, the number of renters has dropped.

More young Americans are buying homes. The ownership rate for Americans under age 35 was 35.3 percent in the first quarter, which is a full percentage point higher than a year ago.

The homeowner vacancy rate dropped to 1.5 percent in the first quarter—the lowest vacancy rate since 2001, the Census Department reports. 

 

Source: “Goodbye Renter Nation: Americans Still Want to Be Homeowners,” MarketWatch (April 26, 2018) and “Homeownership Rate Stable at 64%,” National Association of Home Builders’ Eye on Housing blog (April 26, 2018)

Want to Advertise on this Site?

Latest Blog Posts

Millions Of Consumers Getting A Credit Score Boost

Millions of Consumers Getting a Credit Score BoostAugust 15, 2018An overhaul in how several major credit reporting agencies factor in negative credit information is prompting

Read More

Aug 14 2018 25821 1

ARE YOU THINKING OF SELLING YOUR HOME? COMPETITION IS COMING! The number of building permits issued for single-family homes is the best indicator of how many newly built homes will rise

Read More

Aug 10 2018 21170 1

Price Reduced!!! 23854 Jonathan Place$609,000 Single Family 4 Beds, 2

Read More

Aug 10 2018 62561 1

http://https://www.remax.com/blog/7-budgeting-tips-when-saving-for-a-down/

Read More