Perrella | Search. List. Sold.
    Buy & Sell: Homes, Commercial, Waterfront & Land

Perrella & Associates

Real Estate | Appraisal Service

  • Home
  • Agents
  • About Us
    • Mesaba Woods
    • River Creek
  • Blog
  • Home Show

WORKING MONDAY

More Americans Are Homeowners in 2018

Over the last year, more Americans became homeowners as the number of renters continued to decrease. The homeownership rate in the first quarter was unchanged at 64.2 percent, higher than last year’s 63.6 percent, the Census Department reported Thursday. This is also the fifth consecutive quarter of yearly increases in the ownership rate.
The homeownership rate has been gradually climbing back since hitting a 50-year low in 2016. The rate peaked in 2004 at 69.2 percent, but despite recent climbs, it still remains below the 25-year average rate of 66.3 percent. Meanwhile, the number of renters has dropped.
More young Americans are buying homes. The ownership rate for Americans under age 35 was 35.3 percent in the first quarter, which is a full percentage point higher than a year ago.
The homeowner vacancy rate dropped to 1.5 percent in the first quarter—the lowest vacancy rate since 2001, the Census Department reports.


Source: “Goodbye Renter Nation: Americans Still Want to Be Homeowners,” MarketWatch (April 26, 2018) and “Homeownership Rate Stable at 64%,” National Association of Home Builders’ Eye on Housing blog (April 26, 2018)

Daily Real Estate News | Friday, April 27, 2018

Posted in: Uncategorized

Post navigation

« 421 5th Street SW, Chisholm — $134,900
605 3rd St SW, Chisholm — $99,000 »

Account Login

Save your favorite properties & searches.

Don't have an account?
Sign Up Here

Contact Us

Perrella & Associates
1932 E 2nd Ave
Hibbing, MN 55746
Phone: 218-262-5582
Fax: 218-262-5584
MLSMLS


Copyright 2017 Perrella & Associates
Website by: Dedicated Web Services, LLC.
Log in