Homeownership Rate Climbs to 6-Year High Hoey Team eXp Realty

Dated: February 2 2020

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Americans are facing challenges to homeownership, particularly with shrinking inventories of homes for sale, yet somehow more are still finding their way to becoming homeowners.

Home-ownership on the rise Hoey Team eXp Realty

The homeownership rate rose to its highest level in six years during the fourth quarter of 2019, a newly released report from the U.S. Census Bureau shows. The percentage of Americans who own their home increased to 65.1%, the highest ownership rate since the third quarter of 2013.

The rate was higher in the Midwest and South at 69.5% and 66.7%, respectively.

Homeownership rates are highest among older adults. Individuals aged 65 and older had the highest homeownership rate at 79%. In comparison, individuals below the age of 35 had a homeownership rate of 36.5%.

“The homeownership rate is a great indicator of middle-class financial well-being, so to see that rate go up is good,” says Danielle Hale, realtor.com®’s chief economist.

Article content from NAR (National Association of REALTORS) Newsletter Magazine, and from other sources including Freddie Mac, Florida Realtors.

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Barry & Kim, Hoey Team ๐Ÿ€ 239RealEstateDeals.Com LLC โ˜˜

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