Homeownership rates are increasing! The latest figures, released in November, 2022, show that the homeownership rate increased to 66% during the third quarter of 2022. This was up from 65.4% in the third quarter of 2021 and 65.8% during the second quarter of 2022.
This data is released quarterly by the US Census Bureau and represents the highest period of homeownership since December, 2011 (excluding the Covid Plauge Period during which the data and reporting are high suspect).
Policy makers often consider the homeownershp rate to be a measure of economic health and quality of life for the typical American family. A high rate of homeownership is a good indication that families have adequate reserves to save for a down payment and sufficient income to sustain monthly housing costs.
Source: US Census Bureau
