Friday, July 26, 2019

First-Time Homebuyer Watch: 2nd Quarter 2019

Homeownership rate of householders aged 35 to 39, second quarter 2019: 56.1%

The homeownership rate of the 35-to-39 age group fell in the second quarter of 2019, down a significant 2.2 percentage points from the first-quarter figure. In the two previous quarters, the rate had exceeded 58 percent for the first time since 2011. But that rise may have been a blip, with the latest figure hovering not far above the post-Great Recession low of 54.6 percent in 2015. The homeownership rate of the age group peaked at 65.7 percent in 2007

What about their younger counterparts? Householders aged 30 to 34 were once the nation's first-time home buyers—defined as the age group in which the homeownership rate first surpasses 50 percent. The homeownership rate of 30-to-34-year-olds was stable at 47.5 percent in the second quarter of 2019. The homeownership rate of the age group peaked at 55.3 percent in 2007, fell below 50 percent in 2011, and has been stuck below that level ever since. 

Nationally, the homeownership rate was 64.1 percent in the first quarter of 2019, not statistically different from the rate one year earlier.

Source: Census Bureau, Housing Vacancy Survey

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