More Homeowners Mean Fewer Renters

According to the National Association of Realtors, rising wages, loosening credit standards and demographic shifts are combining to create momentum for owning a home rather than renting one.

With the homeownership rate rising for the fifth consecutive quarter, it held steady at 64.2%, unchanged from the prior quarter and its highest level since 2014. The share of Americans who own a home rose from the prior year, from 63.6% in the first quarter of 2017.

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