{"id":490,"date":"2020-02-11T15:50:32","date_gmt":"2020-02-11T15:50:32","guid":{"rendered":"http:\/\/phphouses.com\/blog\/?p=490"},"modified":"2020-02-11T15:50:35","modified_gmt":"2020-02-11T15:50:35","slug":"homeownership-rate-on-the-rise-to-a-6-year-high","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/homeownership-rate-on-the-rise-to-a-6-year-high\/","title":{"rendered":"Homeownership Rate on the Rise to a 6-Year High"},"content":{"rendered":"\n
\"\"
Homeownership on the rise<\/figcaption><\/figure>\n\n\n\n

Regardless of the lack of inventory on the market, the U.S. homeownership rate has climbed to a 6-year high. The\u00a0United States Census Bureau<\/em>\u00a0reported<\/a>\u00a0that it increased to 65.1% in the fourth quarter of 2019, representing the highest level in the past six years.\u00a0See the graph below:<\/em><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n
\"Homeownership<\/figure><\/div>\n\n\n\n

This increase does not come as a surprise. According to realtor.com<\/em><\/a>,<\/p>\n\n\n\n

\u201cThe largest cohort of the millennial generation turns 30-years-old in 2020 and they are hitting the housing market in full force. At the end of the fourth quarter of 2019, millennials made up the largest generational segment of homebuyers, growing their share of home purchase mortgages to 48 percent.\u201d<\/em><\/p><\/blockquote>\n\n\n\n

With so many Millennials entering a homebuying phase of life and getting into the market, the Millennial Report<\/em><\/a> also explains,<\/p>\n\n\n\n

\u201cHomeownership is an even bigger goal for younger generations. Of those with savings, 41 percent of Gen Z and 40 percent of younger millennials are saving to buy a home.\u201d<\/em><\/p><\/blockquote>\n\n\n\n

Today\u2019s low interest rates are providing a break to new homeowners too, regardless of generation, making homeownership more desirable and achievable at the same time. Freddie Mac<\/em><\/a> explains,<\/p>\n\n\n\n

\u201cThe combination of very low mortgage rates, a strong economy and more positive financial market sentiment all point to home purchase demand continuing to rise over the next few months.\u201d<\/em><\/p><\/blockquote>\n\n\n\n

The increase in homeownership rate was also represented by race and ethnicity of the householders. HousingWire<\/em><\/a> explains,<\/p>\n\n\n\n

\u201cThe homeownership rate for black Americans in 2019\u2019s fourth quarter rose to 44%, a seven-year high, increasing from the record low it reached in 2019\u2019s second quarter. The rate for Hispanic Americans was 48.1%, a two-year high, the Census data showed\u2026The rate for white Americans was 73.7%, an eight-year high.\u201d<\/em><\/p><\/blockquote>\n\n\n\n

See the graph below:<\/em><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Bottom Line<\/strong><\/h3>\n\n\n\n

If you\u2019re considering buying a home this year, let\u2019s get together to set a plan that will help you get one step closer to achieving your dream.<\/p>\n\n\n\n

Contact us:
PHP Houses<\/a>
142 W Lakeview Ave
Unit 1030
Lake Mary, FL 32746
Ph: (407) 519-0719
Fax: (407) 205-1951
email: info@phphouses.com<\/a><\/p>\n\n\n\n

Let\u2019s Connect:
Facebook<\/a>
Linkedin<\/a>
Twitter<\/a>
Instagram<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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