The home ownership rate was on the rise for the second consecutive quarter as an improving job market and a slight easing in access to credit helped put an end to nearly two years of declines.
The share of Americans who own their homes was 63.8 percent in the fourth quarter, which is up from 63.7 percent in the previous three months, the Census Bureau reports. Still, the home ownership rate remains near a 48-year low, which it first reached last year. It also remains far-below the peak it reached at the end of 2004 when the rate was 69.1 percent.
The latest Census data shows that home ownership is highest among people over the age of 65. About 79.3 percent of households that are 65 or older own their homes.
On the other hand, home ownership among those under age 35 remains at 34.7 percent. Among Americans ages 35 to 44, home ownership rose from 58.8 percent to 59.3 percent in the latest quarter.
“The home ownership rate has found a floor,” Matthew Pointon, U.S. property economist for Capital Economics Ltd., told Bloomberg Business. “We expect it to rise very gradually over the next few years."
CLIENT SERVICE GUARANTEE: American Allstar Realty is committed to providing every customer with the highest level of service. As your agent, I promise to always remember that YOU are the most important person in the transaction. At American Allstar Realty, we believe that communication is the cornerstone to a successful transaction. Please feel free to communicate your wants and needs to me as frequently as possible. If I am ever unavailable to receive your call, I promise to return your call as soon as possible; normally in less than one hour.
Buying or selling a home is about much more than just the price you pay for a piece of land. Selecting a property to become your home or place of business is what it is really about, and that's why I enjoy helping my clients buy and sell real estate. My clients come to me because of my knowledge of the industry and my familiarity wi th the area. I can help you find that "dream" home. Call me today and let's get started!
To navigate the complex decisions involved in today's real estate market requires the guidance of a professional. I am committed to service with an emphasis on accountability, reliability, timeliness and enthusiasm. I provide my clients with all the information necessary to help them make real estate investment decisions throughout the changing market cycles.
A successful real estate transaction is built upon the strength of relationships and the experience of how to get things done. I am well respected by my peers, and have developed invaluable working relationships with other professionals in my industry such as title companies, attorneys, lenders and appraisers.
Arizona is seeing record amounts of people moving to our great state a
"I started my search online and luckily I ran across Matt Pennington with American Allstar Realty. He was by far the best realtor I have ever worked with! His knowledge of the market and attention to detail were amazing, but what was special to us was that he truly cared about our family and what we wanted for our forever home. I HIGHLY recommend Matt Pennington if you are looking to buy or sell a home."