Apr
27
Homeownership Ready to Rise After Hitting an All-Time Low
By-
First-quarter gain in owners was biggest in more than a decade
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Wage growth, rising confidence pushing more people to buy
The U.S. homeownership rate is finally poised to rise significantly as household formations by owners grew faster in the first quarter than those by renters — the first time that’s happened in more than a decade.
While the share of Americans who owned their homes was up only slightly from a year earlier, at 63.6 percent, the number of new owners jumped by more than 850,000, compared with an increase in renter households of 365,000. The 1.1 percent year-over-year gain in owners was also the biggest since 2006, according to an analysis by Trulia of Census Bureau data released Thursday…
Homeownership Ready to Rise After Hitting an All-Time Low
