• English
  • Español
AGENTS: Did you know you can share a personalized version of this post? Learn more!
Array
(
    [url] => https://www.keepingcurrentmatters.com/2020/05/04/u-s-homeownership-rate-rises-to-highest-point-in-8-years/
    [title] => U.S. Homeownership Rate Rises to Highest Point in 8 Years
    [image] => https://files.keepingcurrentmatters.com/wp-content/uploads/2020/05/01151505/20200504-KCM-Share.jpg
    [description] => For nearly two months, most of us have been following strict stay-at-home orders from our state and local governments.
    [description_plain] => For nearly two months, most of us have been following strict stay-at-home orders from our state and local governments.
    [twitter_user] => 
    [twitter_hashtags] => 
    [twitter_tweet] => U.S. Homeownership Rate Rises to Highest Point in 8 Years
    [post_id] => 2073177
    [user_image_url] => 
    [title_plain] => U.S. Homeownership Rate Rises to Highest Point in 8 Years
    [short_url_whatsapp] => https://www.keepingcurrentmatters.com/2020/05/04/u-s-homeownership-rate-rises-to-highest-point-in-8-years/
    [short_url_twitter] => https://www.keepingcurrentmatters.com/2020/05/04/u-s-homeownership-rate-rises-to-highest-point-in-8-years/
    [short_url] => https://www.keepingcurrentmatters.com/2020/05/04/u-s-homeownership-rate-rises-to-highest-point-in-8-years/
    [pinterest_image] => https://files.keepingcurrentmatters.com/wp-content/uploads/2020/05/01151505/20200504-KCM-Share.jpg
    [pinterest_desc] => U.S. Homeownership Rate Rises to Highest Point in 8 Years
    [pinterest_id] => 
    [list_of_articles_mode] => 
    [full_url] => https://www.keepingcurrentmatters.com/2020/05/04/u-s-homeownership-rate-rises-to-highest-point-in-8-years/
    [salt] => 1667845610
    [essb_encode_text] => 
    [essb_encode_url] => 
    [essb_encode_text_plus] => 
)
Array
(
    [url] => https://www.keepingcurrentmatters.com/2020/05/04/u-s-homeownership-rate-rises-to-highest-point-in-8-years/
    [title] => U.S. Homeownership Rate Rises to Highest Point in 8 Years
    [image] => https://files.keepingcurrentmatters.com/wp-content/uploads/2020/05/01151505/20200504-KCM-Share.jpg
    [description] => For nearly two months, most of us have been following strict stay-at-home orders from our state and local governments.
    [description_plain] => For nearly two months, most of us have been following strict stay-at-home orders from our state and local governments.
    [twitter_user] => 
    [twitter_hashtags] => 
    [twitter_tweet] => U.S. Homeownership Rate Rises to Highest Point in 8 Years
    [post_id] => 2073177
    [user_image_url] => 
    [title_plain] => U.S. Homeownership Rate Rises to Highest Point in 8 Years
    [short_url_whatsapp] => https://www.keepingcurrentmatters.com/2020/05/04/u-s-homeownership-rate-rises-to-highest-point-in-8-years/
    [short_url_twitter] => https://www.keepingcurrentmatters.com/2020/05/04/u-s-homeownership-rate-rises-to-highest-point-in-8-years/
    [short_url] => https://www.keepingcurrentmatters.com/2020/05/04/u-s-homeownership-rate-rises-to-highest-point-in-8-years/
    [pinterest_image] => https://files.keepingcurrentmatters.com/wp-content/uploads/2020/05/01151505/20200504-KCM-Share.jpg
    [pinterest_desc] => U.S. Homeownership Rate Rises to Highest Point in 8 Years
    [pinterest_id] => 
    [list_of_articles_mode] => 
    [full_url] => https://www.keepingcurrentmatters.com/2020/05/04/u-s-homeownership-rate-rises-to-highest-point-in-8-years/
    [salt] => 1667845610
    [essb_encode_text] => 
    [essb_encode_url] => 
    [essb_encode_text_plus] => 
)
Array
(
    [url] => https://www.keepingcurrentmatters.com/2020/05/04/u-s-homeownership-rate-rises-to-highest-point-in-8-years/
    [title] => U.S. Homeownership Rate Rises to Highest Point in 8 Years
    [image] => https://files.keepingcurrentmatters.com/wp-content/uploads/2020/05/01151505/20200504-KCM-Share.jpg
    [description] => For nearly two months, most of us have been following strict stay-at-home orders from our state and local governments.
    [description_plain] => For nearly two months, most of us have been following strict stay-at-home orders from our state and local governments.
    [twitter_user] => 
    [twitter_hashtags] => 
    [twitter_tweet] => U.S. Homeownership Rate Rises to Highest Point in 8 Years
    [post_id] => 2073177
    [user_image_url] => 
    [title_plain] => U.S. Homeownership Rate Rises to Highest Point in 8 Years
    [short_url_whatsapp] => https://www.keepingcurrentmatters.com/2020/05/04/u-s-homeownership-rate-rises-to-highest-point-in-8-years/
    [short_url_twitter] => https://www.keepingcurrentmatters.com/2020/05/04/u-s-homeownership-rate-rises-to-highest-point-in-8-years/
    [short_url] => https://www.keepingcurrentmatters.com/2020/05/04/u-s-homeownership-rate-rises-to-highest-point-in-8-years/
    [pinterest_image] => https://files.keepingcurrentmatters.com/wp-content/uploads/2020/05/01151505/20200504-KCM-Share.jpg
    [pinterest_desc] => U.S. Homeownership Rate Rises to Highest Point in 8 Years
    [pinterest_id] => 
    [list_of_articles_mode] => 
    [full_url] => https://www.keepingcurrentmatters.com/2020/05/04/u-s-homeownership-rate-rises-to-highest-point-in-8-years/
    [salt] => 1667845610
    [essb_encode_text] => 
    [essb_encode_url] => 
    [essb_encode_text_plus] => 
)
Array
(
    [url] => https://www.keepingcurrentmatters.com/2020/05/04/u-s-homeownership-rate-rises-to-highest-point-in-8-years/
    [title] => U.S. Homeownership Rate Rises to Highest Point in 8 Years
    [image] => https://files.keepingcurrentmatters.com/wp-content/uploads/2020/05/01151505/20200504-KCM-Share.jpg
    [description] => For nearly two months, most of us have been following strict stay-at-home orders from our state and local governments.
    [description_plain] => For nearly two months, most of us have been following strict stay-at-home orders from our state and local governments.
    [twitter_user] => 
    [twitter_hashtags] => 
    [twitter_tweet] => U.S. Homeownership Rate Rises to Highest Point in 8 Years
    [post_id] => 2073177
    [user_image_url] => 
    [title_plain] => U.S. Homeownership Rate Rises to Highest Point in 8 Years
    [short_url_whatsapp] => https://www.keepingcurrentmatters.com/2020/05/04/u-s-homeownership-rate-rises-to-highest-point-in-8-years/
    [short_url_twitter] => https://www.keepingcurrentmatters.com/2020/05/04/u-s-homeownership-rate-rises-to-highest-point-in-8-years/
    [short_url] => https://www.keepingcurrentmatters.com/2020/05/04/u-s-homeownership-rate-rises-to-highest-point-in-8-years/
    [pinterest_image] => https://files.keepingcurrentmatters.com/wp-content/uploads/2020/05/01151505/20200504-KCM-Share.jpg
    [pinterest_desc] => U.S. Homeownership Rate Rises to Highest Point in 8 Years
    [pinterest_id] => 
    [list_of_articles_mode] => 
    [full_url] => https://www.keepingcurrentmatters.com/2020/05/04/u-s-homeownership-rate-rises-to-highest-point-in-8-years/
    [salt] => 1667845610
    [essb_encode_text] => 
    [essb_encode_url] => 
    [essb_encode_text_plus] => 
)
,

U.S. Homeownership Rate Rises to Highest Point in 8 Years

U.S. Homeownership Rate Rises to Highest Point in 8 Years

For nearly two months, most of us have been following strict stay-at-home orders from our state and local governments. It is a whole new way of life that has put our daily lives on pause. On the other hand, many of us have also found a sense of comfort by slowing down and spending time at home, highlighting the feeling of security that comes with having a much-needed safe place for our families to live.

The latest results of the Housing Vacancy Survey (HVS) provided by the U.S. Census Bureau shows how Americans place immense value in homeownership, and it is continuing to grow in the United States. The results indicate that the homeownership rate increased to 65.3% for the first quarter of 2020, a number that has been rising since 2016 and is the highest we’ve seen in eight years (see graph below):U.S. Homeownership Rate Rises to Highest Point in 8 Years | Keeping Current MattersWhy is the rate increasing? The National Association of Home Builders (NAHB) explained:

“Strong owner household formation with around 2.7 million homeowners added in the first quarter has driven up the homeownership rate, especially under the decreasing mortgage interest rates and strong new home sales and existing home sales in the first two months before the COVID-19 pandemic hit the economy.”

The NAHB also emphasizes the year-over-year increase in each generational group:

“The homeownership rates among all age groups increased in the first quarter 2020. Households under 35, mostly first-time homebuyers, registered the largest gains, with the homeownership rate up 1.9 percentage points from a year ago. Households ages 35-44 experienced a 1.2 percentage points gain, followed by the 55-64 age group (a 0.9 percentage point increase), the 45-54 age group (a 0.8 percentage point gain), and the 65+ group age (up by 0.2 percentage point).” (See chart below):

U.S. Homeownership Rate Rises to Highest Point in 8 Years | Keeping Current MattersHomeownership is an important part of the American dream, especially in moments like this when many are feeling incredibly grateful for the home they have to shelter in place with their families. COVID-19 may be slowing our lives down, but it is showing us the emotional value of homeownership too.

Bottom Line

If you’re considering buying a home this year, contact a local real estate professional to set a plan that will help you get one step closer to achieving your dream.


Members: Sign in now to set up your Personalized Posts & start sharing today!

Not a Member Yet? Click Here to learn more about KCM’s newest feature, Personalized Posts.

1 reply
  1. Troy Erickson
    Troy Erickson says:

    Homeownership will always play a large part in the American Dream. It is good to see that the rate of home ownership has started to grow, after a 10 year decline from around 2005-2015. It is surprising how much home ownership has continued to grow since 2016, given that home prices/values have continue to increase at a fairly high rate year over year.

    Reply

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *