Becoming a homeowner has its challenges (with low inventory and all) – but it looks like homeowners are still finding their way to own property.
A recent report from the U.S. Census Bureau showed that homeownership rates rose to the highest level in six years during the fourth quarter of 2019.
The percentage of homeowners increased to 65.1% – which is the highest ownership rate since the third quarter of 2013.
Most homeowners tend to be Gen Xers or Baby Boomers – individuals aged 65 and older have the highest homeownership rate at 79%. Homeowners below the age of 35 are currently at 36.5%.
Danielle Hale, Chief Economist at Realtor.com, explains, “The homeownership rate is a great indicator of middle-class financial well being, so to see that go up is good.”
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