Posted To: MND NewsWire

The homeownership rate fell in the fourth quarter down 1.6 percentage points from its third quarter level but remained higher than in the same quarter in 2019 . The U.S. Census Bureau said the rate, 65.8 percent, was up from 65.1 percent a year earlier. The national rate had topped 69 percent at several points during the housing boom in 2004 and 2005 before retreating. It declined steadily through the Great Recession and into the recovery, reaching a low of 62.9 percent in the second quarter of 2016. Homeownership is consistently highest in the Midwest, and that region posted an annual increase of more than a point in the fourth quarter to 70.8 percent. The South was second at 67.7 percent, also a point higher year-over-year. The rate was 62.6 percent in the Northeast and 60.4 percent in the…(read more)

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Source: Mortgage News Daily