Industry News

U.S. home-ownership rate holds steady in Q4

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The national home-ownership rate remained roughly flat at 68.9 percent in the fourth quarter, compared with 69 percent in third-quarter 2006 and in fourth-quarter 2005, the U.S. Census Bureau reported this week. The rate was 64.5 percent in the West, 65.3 percent in the Northeast, 70.8 percent in the South and 73 percent in the Midwest. The rate in the West dropped from 65.3 percent in the third quarter but was comparable to the fourth-quarter-2005 rate of 64.6 percent. The home-ownership rate was 81.2 percent for those aged 65 and up, 80.7 percent for those 55-64, 76.4 percent for those 45-54, 68.9 percent for those 35-44, and 42.8 percent for those under 35, the Census Bureau reported. These rates remained roughly flat compared to rates in the third quarter. The rate of home ownership rose from 80.6 percent for those 65 and up in fourth-quarter 2005 while falling from 69.7 percent for those 35-44, and also dropped from 76.7 percent for those 45-54 and from 43.1 percent for those...