The homeownership rate of householders aged 30 to 34 fell by 0.9 percentage points between the second and third quarters of 2013, to 47.5 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 that defines first-time homebuyers, and the trend for the age group is downward.
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 third quarter of 2013, the homeownership rate of 35-to-39-year-olds was 56.0 percent. This was 1.2 percentage points lower than one year ago but the highest rate recorded this year. Prior to the Great Recession, the homeownership rate of 35-to-39-year-olds exceeded 66 percent.
Nationally, the homeownership rate was 65.3 percent in the third quarter of 2013, slightly higher than the 65.0 percent in the first and second quarters of 2013 but 0.2 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 third quarter of 2013, the homeownership rate of 35-to-39-year-olds was 56.0 percent. This was 1.2 percentage points lower than one year ago but the highest rate recorded this year. Prior to the Great Recession, the homeownership rate of 35-to-39-year-olds exceeded 66 percent.
Nationally, the homeownership rate was 65.3 percent in the third quarter of 2013, slightly higher than the 65.0 percent in the first and second quarters of 2013 but 0.2 percentage points below the 65.5 percent of one year ago.
Source: Census Bureau, Housing Vacancy Survey
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