Homeownership Rate
By Mark Lieberman, Five Star Institute Economist | 04/30/2012
The nation’s homeownership rate (seasonally adjusted) dropped to 65.4 percent in the first quarter, its lowest level since the first quarter of 1997, the Census Bureau reported Monday. The homeownership rate fell in all four census regions in the first quarter – the steepest drop in the Northeast, 1.2 percentage points to 62.5 percent. The homeownership rate fell 0.8 percentage points in the South to 67.5 percent; 0.5 percentage points in the Midwest to 69.5 percent, and 0.2 percentage points in the West to 59.9 percent. At the same, the homeowner vacancy rate fell to 2.2 percent nationwide, down from 2.6 percent in the first quarter of 2011, and the rental vacancy rate dropped to 8.8 percent from 9.7 percent one year earlier.
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By Esther Cho | 03/12/2012
With Hispanics as the largest minority group in the U.S., mortgage industry professionals should also expect Latinos to be key players when it comes to America's home buying future, according to the 2011 State of Hispanic Homeownership report released by the National Association of Hispanic Real Estate Professionals. According to the report, 34 percent of Hispanics said they are likely to buy a home in the next three years, compared to 24 percent of all Americans.
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By Esther Cho | 02/08/2012
Respondents from a Fannie Mae National Housing Survey for January 2012 expressed expectations for home prices to increase by 1 percent over the next 12 months, and most Americans continue to expect no change in mortgage rates. This marks the fourth month in a row consumer expectation was positive. The Fannie Mae survey polled 1,000 Americans through a telephone interview to assess attitudes towards different areas of the mortgage industry, including owning and renting, rates, homeownership distress, and the economy.
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By Carrie Bay | 01/31/2012
The percentage of single-family homes sitting empty fell to 2.3 percent in the fourth quarter of 2011, according to data released Tuesday by the U.S. Census Bureau.
That's down from 2.7 percent at the beginning of last year, and the lowest homeowner vacancy rate since early 2006. Analysts say it's a sign that excess inventory - at least the visible inventory - is slowly but surely beginning to clear.
The Census Bureau also reported that the nation's homeownership rate dropped to 66.0 percent - its lowest level in nearly 14 years.
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By Krista Franks | 01/12/2012
A group convened on the steps of the South Carolina State House Thursday to express their support of homeownership and opposition to policy changes that might threaten the American Dream. The outlook expressed at the rally mirrors widespread sentiment uncovered in a recent industry survey. About three-fourths of American voters said it is "appropriate and reasonable" for the federal government to promote homeownership through tax incentives.
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By Krista Franks Brock | 11/03/2011
Those who know someone who has defaulted on a mortgage are more likely to have a pessimistic outlook on the economy, according to Fannie Mae's third quarter National Housing Survey. However, knowing a defaulter does not seem to cloud their view of homeownership. Ninety-two percent of owners who know someone who defaulted on a mortgage and 89 percent of owners who do not know a defaulter agree that owning a home makes more sense than renting.
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By Krista Franks | 11/02/2011
After falling to a 13-year low during the second quarter, the U.S. homeownership rate posted a highly unexpected rise in the third quarter. Data released by the Census Bureau Wednesday puts the nation's homeownership rate at 66.3 percent. That's up from 65.9 percent at mid-year. With foreclosures forcing homeowners out of their homes and buyers waiting on the sidelines as home values declined, the rate has been heading south for quite some time. In fact, the third-quarter rise is the first in two years.
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By Krista Franks | 10/18/2011
While the homeownership rate falls, rental demand rises bringing rental rates up and apartment vacancies down -- all of which has led Freddie Mac's chief economist to label the multifamily sector a positive signal for the U.S. housing industry. Frank Nothaft says improvement in the economics of apartment management has prompted an increase in structure values, property sales, and new construction. He notes that many newly-formed households are choosing to rent rather than own in the current, unstable economy.
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By Carrie Bay | 10/07/2011
The national homeownership rate fell by 1.1 percentage points between 2000 and 2010. The U.S. Census Bureau says it's the steepest drop since the period from 1930 to 1940.
Housing woes are, without question, taking a bite out of the American Dream. Unprecedented levels of foreclosures have forced more than 3 million homeowners out of their homes over the past four years. And with $7 trillion in home equity wiped out since 2005, many are leery of putting their hard-earned dollars toward an investment that is still depreciating.
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By Carrie Bay | 08/01/2011
The nation's housing crisis has forced unprecedented numbers of homeowners out of their homes, made for a difficult homebuying environment, and tainted many Americans' ideal of owning a home. These factors are taking their toll on homeownership in this country. The Census Bureau says homeownership in the United States has fallen to its lowest level in more than 13 years, slipping to 65.9 percent in the second quarter. The increase in the homeownership rate seen during the housing boom has been more than completely wiped out by the bust.
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