More Homeowners Mean Fewer Renters
Thursday, May 3rd, 2018According 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.