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Homeownership Rises Among 35-44 Year Olds

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Homeownership Rises Among 35-44 Year Olds
A recent item featured in NAHB's Eye on Housing blog provides some interesting observations on the latest homeownership data reported by the U.S. Census Bureau. According to the government, the seasonally adjusted nationwide homeownership rate remained unchanged at a 15-year low of 65.6% in this year's second quarter. However, there was some movement in the numbers depending upon specific age groups, with the under-35 and 55-64 cohorts seeing declines from the first quarter and the three remaining age groups seeing gains.

The biggest gains in homeownership were charted by householders between the ages of 35 and 44. That said, not including householders aged 65 years and over, homeownership rates among all age groups are still lower than they were in last year's second quarter and much lower than peak levels observed in the mid-2000s -- and the 35-44 age group had the largest decline in homeownership from the peak period, of about 9%.

The latest Census data also provided information pertaining to trends in the vacant housing stock. Specifically, the rental vacancy rate continued downward for a third consecutive time in this year's second quarter, falling to 8.6% and its lowest reading in a decade. Other sources, such as NAHB’s own Multifamily Vacancy Index, have revealed a similar downward trend in apartment vacancies. Meanwhile, the home owner vacancy rate has fallen steadily in each of the last six quarters, currently standing at a meager 2.1%.

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  • Joanne Loftus
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