Rising Homeownership Rates
After falling to a 13-year low during the second quarter, the homeownership rate posted a highly unexpected rise in the third quarter, according to a Census Bureau report released Wednesday.
Homeownership rate had been on the decline for quite some time until the third quarter rise, the first rise in two years!
The 0.4 percent increase brought the homeownership rate to 66.3%, however, this was not enough to support an annual increase as the current homeownership rate remains 0.6% below the third quarter of 2010.
Homeownership Rate Breakdown by Region:
- Midwest - 70.3%
- West - 60.7%
- Northeast - 63.7%
- South - 68.4%
The HighestHomeownership Rate by State:
- West Virginia - 76.1%
- Mississippi – 70%
The LowestHomeownership Rate by State:
- California - 55.9%
- Nevada - 55.3%
- New York - 54.4%
- District of Columbia - 44.3%
-Data provided by Capital Economics
If you are considering purchasing a home in Carlsbad, Oceanside, Vista, San Marcos, Escondido or greater San Diego, start by going to www.MLSDetective.com for your FREE home searches. www.MLSDetective.com is a "real time" search engine and is updated every 15 minutes so you have access to accurate information!
The next step is to contact Allen Meredith at 760-271-5153, or email Allen at Allen@AllenMeredith.com. Allen Meredith is a licensed Real Estate consultant with Prudential California Realty with over 29 offices in San Diego, has been a Real Estate consultant for 7 years, and previously owned and operated Choice Home Inspections, Inc. for 20+ years serving all of San Diego county prior to becoming a Real Estate consultant.
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