Tuesday, November 19, 2013

Homeowner Mobility Rises

For the first time since the Great Recession, the mobility rate of homeowners increased, according to the latest data from the Census Bureau. Between March 2012 and March 2013, an estimated 5.2 percent of people who live in owner-occuped homes moved, up from the record low of 4.7 percent in 2011-12. The number of homeowners who moved grew by 759,000 between 2011-12 and 2012-13. Although the mobility rate of homeowners is rising, it remains well below the 8 to 9 percent that was typical in the 1980s and 1990s.

Renters accounted for the 71 percent majority of movers between March 2012 and March 2013. In contrast to the rise in the homeowner mobility rate, the renter mobility rate fell to 24.9 percent in 2012-13, down from the 26.7 percent of 2011-12. Before the Great Recession, the renter mobility rate typically exceeded 30 percent.

Mobility rate by housing tenure, 2012-13
In owner-occupied housing: 5.2%
In renter-occupied housing: 24.9%

Source: Census Bureau, Geographical Mobility: 2012 to 2013

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