Roseville, Calif. – According to recent report released by tye U.S. Census Bureau, the share of Americans who own their own homes dropped to the lowest rate since 1965. This is well below the high of 69.2 percent in June 2004.
The rate of homeownership in the second quarter of 2016 was 62.9 percent and down from 63.4 for the same period in 2015. The homeownership rate was also down .6 percent from the first quarter.
By race, the homeownership rate for the second quarter 2016 for non-Hispanic white households was the highest at 71.5 percent. The homeownership rate for Asian or Native Hawaiian and Pacific Islander households was 53.7 percent and 41.7 percent for blacks.
The homeownership rate for black households was lower than the second quarter 2015 rate, while the rate for non-Hispanic white households was not statistically different from the second quarter 2015 rate.
The second quarter 2016 homeownership rates were highest in the Midwest at 67.7 percent while the Northeast and West had the lowest rate at 59.2 and 57.9 percent.
If you have any questions about buying or selling a home in the current market, feel free to reach out to me at the MagnumOne Realty Office in Roseville at (916) 899-6571 by email to [email protected] I would be happy to answer your questions.
We specialize serving the needs of buyers and sellers of homes in the Sacramento area including Sacramento, Placer, El Dorado, Sutter and Yuba counties.