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Homeownership Rate by Age, 2017

Tuesday, May 1, 2018

By Cheryl Russell, American Consumers Newsletter

The homeownership rate increased in 2017, rising to 63.9%, according to the Census Bureau's Housing Vacancy Survey. That is the first increase in more than a decade. Does the rise mean the housing market is returning to normal? Not likely, since the advancing age of first-time home buying (the age at which the homeownership rate first surpasses 50%) shows no signs of retreating.

Householders aged 30 to 34 were once the nation's first-time home buyers. But their homeownership rate has fallen by a stunning 11.7 percentage points since the overall homeownership rate peaked in 2004 – the largest decline of any age group. With a homeownership rate of just 45.7% in 2017, householders aged 30 to 34 are no longer the nation's first-time homebuyers. That distinction now belongs to householders aged 35 to 39.

Homeownership Rate by Age, 2017
(and percentage point change since 2004 peak)

Under age 25: 22.6% (-2.6%)
Aged 25 to 29: 32.1% (-8.1%)
Aged 30 to 34: 45.7% (-11.7%)
Aged 35 to 39: 56.4% (-9.8%)
Aged 40 to 44: 61.8% (-10.1%)
Aged 45 to 54: 69.3% (-7.9%)
Aged 55 to 64: 75.3% (-6.4%)
Aged 65-plus: 78.7% (-2.4%)

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Slower Growth Anticipated in Home Remodeling

Thursday, October 18, 2018

After several years of solid acceleration, annual growth in national home improvement and repair spending is expected to soften in 2019, according to the Leading Indicator of Remodeling Activity (LIRA) released today by the Remodeling Futures Program...

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