The homeownership rate of householders aged 30 to 34 fell 0.5 percentage points between the first and second quarters of 2013, to 48.4 percent. Although the homeownership rate of the age group has recovered from the all-time low of 46.9 percent recorded in the third quarter of 2012, it is well below the 50 percent mark (and has been for nine quarters and counting) that defines first-time homebuyers.
In the new normal, the typical first-time homebuyer is a middle-aged 35-to-39-year-old rather than a young adult. In the second quarter of 2013, the homeownership rate of 35-to-39-year-olds was 55.4 percent, fully 2.2 percentage points lower than one year ago and the biggest year-over-year decline experienced by any age group. Prior to the Great Recession, the homeownership rate of 35-to-39-year-olds exceeded 66 percent.
Nationally, the homeownership rate was 65.0 percent in the second quarter of 2013, identical to the first quarter rate and 0.5 percentage points below the 65.5 percent of one year ago.
Source: Census Bureau, Housing Vacancy Survey
In the new normal, the typical first-time homebuyer is a middle-aged 35-to-39-year-old rather than a young adult. In the second quarter of 2013, the homeownership rate of 35-to-39-year-olds was 55.4 percent, fully 2.2 percentage points lower than one year ago and the biggest year-over-year decline experienced by any age group. Prior to the Great Recession, the homeownership rate of 35-to-39-year-olds exceeded 66 percent.
Nationally, the homeownership rate was 65.0 percent in the second quarter of 2013, identical to the first quarter rate and 0.5 percentage points below the 65.5 percent of one year ago.
Source: Census Bureau, Housing Vacancy Survey
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