First Time Homebuyer Watch: Second
Tuesday, September 3, 2019
From Census Bureau, Housing Vacancy Survey; Posted by Cheryl Russell – Demo Memo
Homeownership rate of householders aged 35 to 39, second quarter 2019: 56.1%
The homeownership rate of the 35 to 39 age group fell in the second quarter of 2019, down a significant 2.2 percentage points from the first-quarter figure. In the two previous quarters, the rate had exceeded 58% for the first time since 2011. But that rise may have been a blip, with the latest figure hovering not far above the post-Great Recession low of 54.6% in 2015. The homeownership rate of the age group peaked at 65.7% in 2007.
What about their younger counterparts? Householders aged 30 to 34 were once the nation's first-time homebuyers – defined as the age group in which the homeownership rate first surpasses 50%. The homeownership rate of 30 to 34-year-olds was stable at 47.5% in the second quarter of 2019. The homeownership rate of the age group peaked at 55.3% in 2007, fell below 50% in 2011, and has been stuck below that level ever since.
Nationally, the homeownership rate was 64.1% in the first quarter of 2019, not statistically different from the rate one year earlier.