Homeownership rate reaches highest level in three years
But remains historically low
The national homeownership rate reached its highest level since the fourth quarter of 2014, increasing slightly in the last quarter of 2017, according to the Quarterly Residential Vacancies and Homeownership report from the U.S. Census Bureau.
The homeownership rate remained statistically unchanged, inching up to 64.2% in the fourth quarter. This is up from 63.7% the year before and 63.9% in the third quarter.
The chart below shows the homeownership rate has been steadily rising since 2016, however it remains historically low.
“After bouncing around near 50-year lows for the past few years, the national homeownership rate finally seems to be gaining sustainable, meaningful upward momentum,” Zillow Senior Economist Aaron Terrazas said. “The fourth quarter of 2017 was unseasonably strong, driven by buyers determined to make a deal in a highly...FULL ARTICLE: https://www.housingwire.com/articles/42403-homeownership-rate-reaches-highest-level-in-three-years
Exit Realty Premier: Your Massapequa and Long Island Real Estate Partner