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US homeownership at lowest level in 19 years

Posted by: In: Real Estate 31 Jul 2014 Comments: 0 Tags: ,
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Photo credit: Michael Patrick

The official statistics reveal that the rate of homeownership in the USA was 64.7 per cent in the second quarter of 2014. That figure is only slightly down on the 64.8 recorded in the first three months of the year but is 0.3 per cent down on the second quarter of 2013 and marks the third quarter-on-quarter drop in a row.

The statistics show a country that is increasingly deciding to rent property rather than buy it. Indeed, homeownership rates have not been this low in 19 years, since the second quarter of 1995.

Approximately 86.4 per cent of the housing units in the United States in the second quarter 2014 were occupied and 13.6 per cent were vacant. Owner-occupied housing units made up 55.9 per cent of total housing units, while renter-occupied units made up 30.5 percent of the inventory in the second quarter 2014. Vacant year-round units comprised 10.2 percent of total housing units, while 3.4 per cent were for seasonal use.

Approximately 2.5 per cent of the total units were for rent, 1.1 per cent were for sale only, and 0.8 percent were rented or sold but not yet occupied. Vacant units that were held …read more

Source: The Movechannel

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