Homeownership Rate Continues to Rise in 2020

The second quarter of 2020 has had more than a few challenges. Amidst the many roadblocks, however, the U.S. homeownership rate rose again, signaling great strength in the recovery of the housing market and an indication that even in a time of crisis, Americans still feel confident about buying a home, will Homeownership Rate Continues to Rise?

Yesterday, the U.S. Census Bureau announced:

“The homeownership rate of 67.9 percent was 3.8 percentage points higher than the rate in the second quarter 2019 (64.1 percent) and 2.6 percentage points higher than the rate in the first quarter 2020 (65.3 percent).”

The increase is also represented by race and ethnicity of the householder:There are many reasons why the homeownership rate in this country is rising, and one of the key factors is historically-low mortgage rates.

This growth is outstanding news for the housing market and for those who have recently found their new homes. Perhaps historically low mortgage rates can help you to become a homeowner too.

Bottom Line

If you’re thinking of buying a home this year, let’s connect today to take your dream one step closer to reality.

– Get your San Antonio Home Valuation Here

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