Homeownership Rate Edges Up

According to the Census Bureau’s Housing Vacancy Survey (HVS), the U.S. homeownership rate rose to 63.5 percent in the third quarter 2016, reversing the downward trend of homeownership rate nationwide. It is 60 basis points higher than the rate in the second quarter 2016, which is largely driven by the increase in the millennial and 65+ homeownership rates.

Compared to the peak at the end of 2004, the homeownership rate has steadily decreased by 5.7 percentage points and remains below the 25-year average rate of 66.2 percent.

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