U.S. Homeownership Rate Holds Steady

31 01 2007

Census Bureau data shows that the U.S. homeownership rate held steady in the fourth quarter at 68.9 percent.

Regionally, the homeownership rate was 73 percent in the Midwest, 70.8 percent in the South, 65.3 percent in the Northeast, and 64.5 percent in the West.

The homeownership rate for non-Hispanic whites was 76 percent, vs. 49.5 percent for Hispanics and 48.2 percent for blacks. The data also reveals a jump in the homeownership rate for those in the 65-and-up age segment to 81.2 percent from 80.6 percent in the fourth quarter of 2005, while the rate of homeownership for the 55-64 age group held steady at 80.7 percent.

However, the homeownership rate fell to 76.4 percent from 76.7 percent in the 45-54 segment, to 68.9 percent from 69.7 percent for those between the ages of 35 and 44, and to 42.8 percent from 43.1 percent for the under-35 set.

In terms of income level, the homeownership rate held steady at 84.5 percent for those earning the median income or more and at 52.9 percent for households earning less than the median income.

Source: Inman News



3 responses

2 03 2007

Judging by those numbers, it’s time that the real estate industry becomes more effective in addressing the needs of other ethnic backgrounds. Why are so few realtors really doing something about it? The best tips I have seen was recently posted in a blog on Realblogging.com by Stefan Swanepoel.

2 03 2007

Dear Lucy,

Thank you for sharing. I was one of many Realtors who are foreign-born and minority households in the United States. And trust me we are really doing something about it. Those of you who do not know Stefan Swanepoel, he is the author, strategic advisor and real estate speaker. You can read more about the tread posted at href=”http://stefanswanepoel.realblogging.com/default.asp?item=242403.

4 03 2007

Thanks, Will! I’m glad to hear it!

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