Census: Homeownership hit 15-year low in 1Q and the effects on Pensacola

Census: Homeownership hit 15-year low in 1Q and the effects on Pensacola

No surprise: The percent of U.S. residents who own their home still dropping from highs hit during the peak of the boom. Read more.

New figures released Monday by the Census Bureau show the rate of U.S. homeownership fell in the first three months of this year to 65.4 percent. That’s down from 66.4 percent in the first quarter last year.

The last time the rate hit 65.4 percent was in the first quarter of 1997. The rate peaked at 69.2 percent in the fourth quarter of 2004, during the high-flying days of the housing boom.

Recent housing and economic data have been encouraging, prompting some economists to predict a pickup in housing this year. But few believe the U.S. will ever return to its mid-decade peak.

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Census: Homeownership hit 15-year low in 1Q and the effects on Pensacola

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