Q3 Homeownership Rate Holds Steady – NMP Skip to main content

Q3 Homeownership Rate Holds Steady

Phil Hall
Oct 30, 2018
The homeownership rate during the third quarter was 64.4 percent, according to new data from the U.S. Census Bureau

The homeownership rate during the third quarter was 64.4 percent, according to new data from the U.S. Census Bureau. This represents scant increases from the 64.3 percent rate in the second quarter and the 63.9 percent rate from the third quarter of 2017.
 
The third quarter homeownership rate was highest in the Midwest (69 percent), followed by the South (65.4 percent), the Northeast (61.5 percent), and the West (60.2 percent). Homeownership was highest among those ages 65 years and over (78.6 percent) and lowest for those 35 years and under (36.8 percent). Among racial and ethnic demographics, white householders reported a homeownership rate of 73.1 percent, followed by Asian-Americans at 58.2 percent, Hispanics at 46.3 percent and African-Americans at 41.7 percent.
 
Third quarter vacancy rates were 7.1 percent for rental housing and 1.6 percent for homeowner housing. Approximately 87.6 percent of the housing units in the third quarter were occupied and 12.4 percent were vacant. Owner-occupied housing units accounted for 56.4 percent of total housing units, while renter-occupied units made up 31.2 percent of the third quarter’s inventory. Vacant units that were held off market totaled 5.4 percent of the total housing stock.
The homeownership rate during the third quarter was 64.4 percent, according to new data from the U.S. Census Bureau

 
 
Published
Oct 30, 2018
Scathing Report Critiques The Appraisal Industry's Governance Issue

The report took issue with the Appraisal Foundation for its lack of inclusivity and diversity enforcement. 

Industry News
Jan 27, 2022
UWM Offers No-Cost Appraisals

UWM is crediting borrowers up to $600 for appraisal costs on all conventional, government and jumbo purchase loans for primary homes.

Industry News
Jan 27, 2022
CrossCountry Mortgage Hires Award-Winning Broker

Kathryn Pedersen, Yampa Valley's top-rated mortgage broker, joined CrossCountry Mortgage as the originating branch manager for its office located in the Fox Creek Business Park, 169 Hilltop Parkway, Suite 206B, in Steamboat Springs, CO.

Community
Jan 27, 2022
Revolution Mortgage Opens New Texas Branch

Ohio-based Revolution Mortgage opened up a new location in Lewisville, TX, led by branch manager Christina Luna.

Industry News
Jan 27, 2022
Fintech Startup Tomo Doubles Mortgage Footprint

Adds Colorado, Connecticut & Florida; now serves nearly a quarter of the U.S. market.

Industry News
Jan 27, 2022
Ginnie Mae Exits The Stone Age And Embraces Blockchain

'Some of the procurement stuff that we do, maybe it’s archaic, maybe it needs to be innovated.'

Industry News
Jan 26, 2022