Q2 Homeownership Rate Stands at 64.3 Percent

Phil Hall

Jul 26, 2018

The Federal Housing Finance Agency (FHFA) announced the current $35 billion multifamily lending caps used respectively by Fannie Mae and Freddie Mac will be retained into 2019

The homeownership rate during the second quarter of this year was 64.3 percent, according to data released by the U.S. Census Bureau. The second quarter’s homeownership rate was very slightly higher than the 64.2 percent in the first quarter of this year and the 63.7 percent from the second quarter of 2017.

During the second quarter, approximately 87.7 percent of the housing units across the country were occupied and 12.3 percent were vacant. Owner-occupied housing units made up 56.3 percent of total housing units, while renter-occupied units accounted for 31.3 percent of the second quarter inventory.

On a regional measurement, the second quarter homeownership rate was highest in the Midwest (68.3 percent), followed by the South (65.9 percent), the Northeast (61.3 percent), and the West (59.7 percent). The Census Bureau determined there was no statistical difference between the second quarter statistics and the data from one year earlier.

In measuring by racial demographics, the homeownership rate for non-Hispanic White Alone householders reporting a single race was highest at 72.9 percent, while the rate for Asian, Native Hawaiian and Pacific Islander Alone householders was 58 percent and Black Alone householders was 41.6 percent. The homeownership rate for Hispanic householders, who could be of any race and were measured as a separate demographic, was 46.6 percent.

Link copied

Published

Jul 26, 2018

Sales and Marketing

Emmy-Winning Director Takes Viewers Inside the World of Mortgage Originators in 'LO Confidential'

New reality series offers a glimpse of the mortgage industry's challenges.

Ever wonder what it's like to work on commission in a down market? Emmy-award winning director Kirby Bradley tries to give you a taste with "LO Confidential."  It's a new reality show released this week on YouTube that follows three loan originators in three Fairway In...

Analysis and Data

Pending Home Sales Decline By 1.5% In October

Rising mortgage rates and limited inventory cast a shadow on real estate market.

Pending home sales dropped 1.5% in October, according to the National Association of Realtors (NAR). It marks a concerning trend for the housing market and reveals a challenging landscape for potential buyers and sellers, influenced by factors such as rising mortgage rates a...