New Owners are the old Renters
Good news, the Census Bureau has new data on the national home-ownership rate.
According to the latest data from the Census Bureau, the homeownership rose in the fourth quarter to a four-year high. And it also continues a trend. Moreover, homeownership steadily increased from a nearly all-time low back in 2016.
Since then, the 2016 figure has risen steadily. In fact, since the fourth quarter the increase is being driven by younger buyers.
And according to CoreLogic analysis, there’s even more good news hidden in the data itself. Additionally, much of the growth in homeownership seems to be coming from renters who are becoming home buyers.
Show Prep Source: https://www.housingwire.com/articles/48317-homeownership-rate-rises-to-four-year-high-as-millennials-are-finally-buying-homes
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