Homeownership Rate on the Rise to a 6-Year High
Regardless of the lack of inventory on the market, the U.S. homeownership rate has climbed to a 6-year high. The United States Census Bureau reported that it increased to 65.1% in the fourth quarter of 2019, representing the highest level in the past six years. See the graph below:This increase does not come as a surprise. According to realtor.com,
With so many Millennials entering a homebuying phase of life and getting into the market, the Millennial Report also explains,
Today's low interest rates are providing a break to new homeowners too, regardless of generation, making homeownership more desirable and achievable at the same time. Freddie Mac explains,
The increase in homeownership rate was also represented by race and ethnicity of the householders. HousingWire explains,
If you're considering buying a home this year, let's get together to set a plan that will help you get one step closer to achieving your dream.