Homeownership Rates: Are they Crashing?

The Census recently released their 2014 Homeownership Statistics, and many began to worry that Americans have taken a step back from the notion of homeownership.

Easy… Chicken Little

The national homeownership rate peaked in 2004, representing a 69.2% of Americans who bought vs. rented their primary residence. Many have noticed a decline in rate since then and taken that as a bad sign. However, if you look at the national rate over the last 30 years (1984-2014), you can see that the current homeownership rate has returned closer to the historic norm. 2014 ended the year with a rate of 64% just under the rate in 1985 and 1995.

Bottom Line

With interest rates and prices still below where experts predict, evaluate your ability to purchase a home with a local real estate professional.  

When you are ready to purchase your first or next home, give us a call, text or email. Put our experience and negotiation skills to work you!

Steve Hill and Sandra Brenner
SEATTLE-NORTHWEST
Windermere Real Estate

206-769-9577
stevehill@windermere.com

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