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The U.S. Census Bureau reports that homeownership was unchanged in the third quarter of 2021 from the rate in the second quarter, 65.4 percent, but was down two full percentage points year over year. The rate had been climbing out of the 62.9 percent low it hit in the second quarter of 2016, but reversed course after hitting a recent high of 67.9 in the second quarter of last year, the period in which the first wave of the pandemic hit. The rate declined from a year earlier in all major regions, most notably in the South, down 3.8 points to 67.0, and the West which fell from 62.1 percent to 59.9 percent. The West's rate is the regional low while the Midwest's rate is the highest at 70.9 percent. The highest ownership rate by age was, as always, among the oldest cohort, those over 65 years of
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Rob Chrisman
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Real estate investors, agents, and lenders were keenly interested in Zillow’s earnings call yesterday. Those of us listening in learned that the company is ending its home-flipping business and will lay off 25 percent of its staff. No one can c... (read more) |
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Housing News
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The U.S. Census Bureau reports that homeownership was unchanged in the third quarter of 2021 from the rate in the second quarter, 65.4 percent, but was down two full percentage points year over year. The rate had been climbing out of the 62.9 percent... (read more) |
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Housing News
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The volume of mortgage applications as measured by the Mortgage Bankers Association's (MBA's) Market Composite Index declined during the week ended October 29. The Index was down 3.3 percent on a seasonally adjusted basis and 4 percent unadjusted whe... (read more) |
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