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Homeownership Rate Pulls Back from 11 Year High

Posted To: MND NewsWire

The national homeownership rate moved fractionally higher in the first quarter of 2021 when compared to the same quarter in 2020 but was lower than in each of the prior three quarters. The U.S. Census Bureau put the rate at 65.6 percent compared to 65.3 percent a year earlier. The rate had spiked over 6.5 percent in both the second and third quarters of 2020, the highest rates since 2009. Homeownership was highest in the Midwest at 70.3 percent, followed by the South (67.4 percent), Northeast (63.1 percent) and lowest in the West at 59.7 percent. The rate in the Midwest was a point higher than a year earlier while the other regions’ changes are not considered statistically different. Among the various age groups, those under age 35 had the lowest rate at 38.1 percent followed by those between…(read more)

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