U.S. Homeownership Rate Falls To Same Level Seen In 1965

Posted by Patrick Barnard on July 28, 2016 No Comments
Categories : Residential Mortgage

The U.S. homeownership rate fell to 62.9% in the second quarter – a decrease of 0.5 percentage points compared with the second quarter of 2015, when it was 63.4%, according to figures released by the U.S. Census Bureau.

It was the lowest homeownership rate since 1965.

As of the end of the second quarter, the vacancy rate for homeowner housing was about 1.7% while the vacancy rate for rental housing was about 6.7%. Neither of these figures is statistically different from the rates seen in the second quarter of 2015.

About 87.3% of the housing units in the U.S. were occupied in the second quarter, while about 12.7% were vacant.

About 54.9% of total housing units were owner-occupied, while about 32.4% were renter-occupied.

Vacant year-round units comprised 9.5% of total housing units, while 3.2% were for seasonal use.

Vacant units that were held off market comprised 5.4% of the total housing stock. Of these units, 1.5% were for occasional use, 1.1% were temporarily occupied by persons with usual residence elsewhere, and 2.8% were vacant for a variety of other reasons.

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