Posted To: MND NewsWire

The U.S. Census Bureau reports that homeownership was unchanged in the third quarter of 2021 from the rate in the second quarter, 65.4 percent, but was down two full percentage points year over year. The rate had been climbing out of the 62.9 percent low it hit in the second quarter of 2016, but reversed course after hitting a recent high of 67.9 in the second quarter of last year, the period in which the first wave of the pandemic hit. The rate declined from a year earlier in all major regions, most notably in the South, down 3.8 points to 67.0, and the West which fell from 62.1 percent to 59.9 percent. The West’s rate is the regional low while the Midwest’s rate is the highest at 70.9 percent. The highest ownership rate by age was, as always, among the oldest cohort, those over 65 years of…(read more)

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Published On: November 3, 2021 / Categories: Mortgage News /