The 46.9 percent homeownership rate of households headed by people aged 30 to 34 is a bit higher than the 46.5 percent all-time low recorded in the second quarter of 2014. But the difference is not statistically significant as the aging of first-time homebuyers continues.
Householders aged 30 to 34 had long been the nation's first-time homebuyers. Historically, this was the age group in which homeownership became the norm—rising above 50 percent. But beginning in 2007, the homeownership rate of 30-to-34-year-olds went into a tailspin. In the second quarter of 2011, the rate fell below 50 percent for the first time. The latest numbers are another datapoint in the ongoing trend.
The new age of first-time home buying is 35 to 39, but even this age group is slipping. The homeownership rate of 35-to-39-year-olds fell to 55.6 percent in the third quarter of 2014—close to the record low of 55.3 percent recorded in the first quarter of 2013.
Nationally, the homeownership rate slipped to 64.4 percent in the third quarter of 2014, down from 65.3 percent one year ago.
Source: Census Bureau, Housing Vacancy Survey
Householders aged 30 to 34 had long been the nation's first-time homebuyers. Historically, this was the age group in which homeownership became the norm—rising above 50 percent. But beginning in 2007, the homeownership rate of 30-to-34-year-olds went into a tailspin. In the second quarter of 2011, the rate fell below 50 percent for the first time. The latest numbers are another datapoint in the ongoing trend.
The new age of first-time home buying is 35 to 39, but even this age group is slipping. The homeownership rate of 35-to-39-year-olds fell to 55.6 percent in the third quarter of 2014—close to the record low of 55.3 percent recorded in the first quarter of 2013.
Nationally, the homeownership rate slipped to 64.4 percent in the third quarter of 2014, down from 65.3 percent one year ago.
Source: Census Bureau, Housing Vacancy Survey
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