Homeownership Rate Hits 6-Year High!

Homeownership Rate Hits 6-Year High!

The path to homeownership has not been an easy one in recent years. Between the inventory shortage, rising prices, and fierce competition for property, there have been significant challenges facing would-be Buyers.

But, as it turns out, that has not stopped them.

According to data released by the US Census Bureau, outlined in a recent article in REALTOR® Magazine, as of the fourth quarter of 2019, 65.1 percent of Americans now own their own homes, the highest homeownership rate in the United States since the third quarter of 2013—more than six years.

The Takeaway:

So, what does that mean for you? If you have been thinking about selling, the drive and desire for homeownership on the part of Buyers could bode well for you. And, if you are considering buying, data shows that you can achieve homeownership even when there are tough market conditions to contend with when you decide to do so.