Industry News

Home ownership reaches all-time high

More minorities owned homes in 3rd quarter

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The number of homeowners in the United States reached a new high in the third quarter, the Census Bureau reported Monday. There are now 73.7 million homeowners nationwide, more than at any time in history. This is 323,000 more than the previous high set in the second quarter of 2004 and almost 1.6 million more than in the third quarter of 2003, the Census Bureau reported. Minority home ownership was also at an all-time high in the third quarter. There are now 15.2 million minority homeowners in the United States. "These numbers combined with news that sales of previously owned homes jumped 3.1 percent in September, show that housing continues to lead the way in our rapidly recovering economy. President Bush is committed to building on these accomplishments because he believes that people from every walk of life should have the opportunity to become homeowners," said Housing and Urban Development Secretary Alphonso Jackson. "The President's housing initiatives will break down the bar...