Homeownership Dips to All-Time Low

Posted To: MND NewsWire

Homeownership rates, which have been declining since the end of the housing boom, hit an a ll-time low in the second quarter of 2016 . The rate at the end of the period was 62.9 percent on a non-seasonally adjusted basis compared to 63.5 percent in the first quarter and 63.4 percent in the second quarter of 2015. This information was contained in the Residential Vacancies and Homeownership report for the second quarter issued by the U.S. Census Bureau. There is some seasonality to homeownership rates and the seasonally adjusted rate for the quarter was 63.1 percent compared to 63.5 percent the first quarter and 63.6 percent a year earlier. It was also the lowest seasonally adjusted rate on record. The Census Bureau only began collecting data on homeownership in 1995 . The unadjusted rate peaked...(read more)

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