Industry News

Home ownership reaches all-time high

Midwesterners ranked #1

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Home ownership in the United States rose to a record-high rate of 69.2 percent in the second quarter, with 73.4 million Americans calling themselves homeowners, according to a Census Bureau report released today. The second-quarter home-ownership rate rose from 68 percent in the second quarter of 2003, and increased from 68.6 percent in the first quarter of 2004. When adjusted for seasonality, the current home-ownership rate at 69.3 percent was higher than 68.1 percent shown a year ago and also higher than the rate last quarter, 68.7 percent. During the second quarter 2004, the home-ownership rates by region were highest in the Midwest (74.2 percent), while the South (70.9 percent) ranked second, the Northeast (65.4 percent) was third and the West (64.5 percent) had the lowest rate. The home-ownership rates for all regions were higher than their respective rates a year ago. For second quarter 2004, the home-ownership rates by age of householder ranged from 43.6 percent for those ...