Homeownership Near Record

The national homeownership rate is the second highest it has ever been since the government began tracking it in 1890, according to a recent report from the Census Bureau. Levels were highest in the Midwest, at 69.2 percent, followed by the South, at 66.7 percent; the Northeast, at 62.2 percent; and the West, at 60.5 percent. The only time that U.S. homeownership has been greater was in 2000. The country’s housing supply, meanwhile, swelled by 23.6 percent — or 15.8 million units — over the past decade. Inventories were up across the board, but increased faster in the South and West regions than they did in the Midwest and Northeast sectors. | Read More