Oklahoma State Home Builders Association

An Affiliate of the National Home Builders Association

Homeownership rate at record low

Posted on July 29, 2016 by By Carol Hartzog Communications

Eye on Housing

By Na Zhao
Copyright © 2014 National Association of Home Builders

According to Census Bureau’s Housing Vacancy Survey (HVS), the homeownership rate dropped to 62.9% in the second quarter of 2016. It is the lowest level since 1965, when the Census Bureau started tracking these data. This was a second straight quarterly decrease, down by 60 basis points on a nonseasonally adjusted basis from three months ago.

The homeownership rate continued to decline for all age groups except for Generation X, on an annual basis. The homeownership rate for Generation X increased modestly to 58.3%, up by 0.3% since a year ago. The homeownership rate for household heads older than 65 years old (77.9 %) decreased by 60 basis points. The largest declines, however, were for those ages less than 35 and 55-64, with an annual drop of ... Read the article at the NAHB website


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