Week of March 18, 2019

Changes in homeownership

Percentage of owners by age group

Percentage of owners by age group

Percentage of total
population

Percentage of total population
Month Age < 35 35-44 45-54 55-64 65+
Third Quarter 2015 35.8% 58.1% 69.9% 75.3% 78.7%
Third Quarter 2018 36.8% 59.5% 69.7% 75.6% 78.6%
Change 1.0% 1.4% -0.2% 0.3% -0.1%
Month Homeownership Inventory
Fourth Quarter 2017 64.2% 713,644
First Quarter 2018 64.2% 666,909
Second Quarter 2018 64.3% 756,073
Third Quarter 2018 64.4% 811,987

Homeownership has made large gains in the past three years among individuals aged 44 and younger, but remained largely flat with older Americans.1 The increase is possibly due to millennials and Gen Xers taking advantage of low interest rates to buy their first home as they start families. However, people 45 and older may not be buying due to rising costs.

In the third quarter of 2018, 64.4% of the population owned a home; an increase of 0.2% from the previous year. However, issues of affordability and a possible increase in rates may curb future growth.

1Source data: Census Bureau/CoreLogic®

Data date: 2/13/2019

 

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