Strong Owner Household Formations in the Second Quarter
According to the Census Bureau’s Housing Vacancy Survey (HVS), the U.S. homeownership rate was 64.3 percent in the second quarter 2018. After dropping to a cycle low of 62.9 percent in the second quarter 2016, the national homeownership rate seems to be on a sustainable upward trend. Compared to the peak of 69.2 percent in 2004, the homeownership rate is lower by five percentage points.
The count of total households, however, increased to 121 million in the second quarter 2018 from 119 million at the same period in 2017. The gains were predominantly driven by owner households, while renter households only increased 146,000.
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