The national homeownership rate continued its slow trek back above last year’s historic lows in the third quarter, rising to levels not seen since 2014.The latest data from the U.S. Census Bureau released this week shows that the homeownership rate rose to 63.9 percent in the third quarter from 63.7 percent in the second quarter. In last year’s third quarter, the homeownership rate was 63.5 percent.
While the Census Bureau notes that neither increase was “statistically different,” the homeownership rate is now a full percentage point above 2016’s second quarter, when the homeownership rate fell to it lowest level since 1965.
Before falling to that historic low, the homeownership rate trended down since it peaked above 69 percent during the height of the housing boom.But now, the downward trend appears to be finally turning in a positive direction with the homeownership rate climbing, albeit modestly, over the last several quarters – as seen in the chart below.
