{"id":743,"date":"2020-05-04T14:24:22","date_gmt":"2020-05-04T14:24:22","guid":{"rendered":"http:\/\/phphouses.com\/blog\/?p=743"},"modified":"2022-07-04T23:52:52","modified_gmt":"2022-07-04T23:52:52","slug":"u-s-homeownership-rate-rises-highest-point-8-years","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/u-s-homeownership-rate-rises-highest-point-8-years\/","title":{"rendered":"U.S. Homeownership Rate Rises to Highest Point in 8 Years"},"content":{"rendered":"
\"\"

U.S. Homeownership Rate Rises to Highest Point in 8 Years<\/p><\/div>\n

For nearly two months, most of us have been following strict stay-at-home orders from our state and local governments. It is a whole new way of life that has put our daily lives on pause. On the other hand, many of us have also found a sense of comfort by slowing down and spending time at home, highlighting the feeling of security that comes with having a much-needed safe place for our families to live. The latest results of the\u00a0Housing Vacancy Survey<\/em><\/a>\u00a0(HVS) provided by the\u00a0U.S. Census Bureau<\/em>\u00a0shows how Americans place immense value in homeownership, and it is continuing to grow in the United States. The results indicate that the homeownership rate increased to 65.3% for the first quarter of 2020, a number that has been rising since 2016 and is the highest we\u2019ve seen in eight years\u00a0(see graph below):<\/em><\/p>\n

\"\"

U.S. Homeownership % Rates<\/p><\/div>\n

Why is the rate increasing? The\u00a0National Association of Home Builders (NAHB)<\/em>\u00a0explained<\/a>:<\/p>\n

\u201cStrong owner household formation with around 2.7 million homeowners added in the first quarter has driven up the homeownership rate, especially under the decreasing mortgage interest rates and strong new home sales and existing home sales in the first two months before the COVID-19 pandemic hit the economy.\u201d<\/em><\/p><\/blockquote>\n

The NAHB also emphasizes the year-over-year increase in each generational group:<\/p>\n

\u201cThe homeownership rates among all age groups increased in the first quarter 2020. Households under 35, mostly first-time homebuyers, registered the largest gains, with the homeownership rate up 1.9 percentage points from a year ago. Households ages 35-44 experienced a 1.2 percentage points gain, followed by the 55-64 age group (a 0.9 percentage point increase), the 45-54 age group (a 0.8 percentage point gain), and the 65+ group age (up by 0.2 percentage point).\u201d (See chart below):<\/em><\/p><\/blockquote>\n

\"\"

U.S. Homeownership Rate by Age of Householder<\/p><\/div>\n

Homeownership is an important part of the\u00a0American dream<\/a>, especially in moments like this when many are feeling incredibly grateful for the home they have to shelter in place with their families. COVID-19 may be slowing our lives down, but it is showing us the emotional value of homeownership too.<\/p>\n

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

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

Contact us:<\/strong>
\nPHP Houses
\n142 W Lakeview Ave
\nUnit 1030
\nLake Mary, FL 32746
\nPh:\u00a0(407) 519-0719<\/span>
\nFax:\u00a0(407) 205-1951<\/span>
\nemail:\u00a0info@phphouses.com<\/p>\n

Let\u2019s Connect:<\/strong>
\nFacebook<\/a>
\nLinkedin<\/a>
\nTwitter<\/a>
\nInstagram<\/a><\/p>\n

THE INFORMATION PRESENTED IN THIS ARTICLE IS FOR EDUCATIONAL PURPOSES ONLY AND SHOULD NOT BE CONSIDERED LEGAL, FINANCIAL, OR AS ANY OTHER TYPE OF ADVICE.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"

Importance of Homeownership Finish Reading U.S. Homeownership Rate Rises to Highest Point in 8 Years<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[69],"tags":[59,38,15,50,10,18,91,52,67,32,49,175,42,23,20,12,24,48,108,13,28,47,19,17],"_links":{"self":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/743"}],"collection":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/comments?post=743"}],"version-history":[{"count":1,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/743\/revisions"}],"predecessor-version":[{"id":747,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/743\/revisions\/747"}],"wp:attachment":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/media?parent=743"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/categories?post=743"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/tags?post=743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}