“The ache for home lives in all of us, the safe place where we can go as we are and not be questioned.”
The Censusrevealed that the percentage of homeowners in America has been steadily climbing back up since hitting a 50-year low in 2016. The homeownership rate in the first quarter of 2018 was 64.2%, higher than last year’s 63.6%.
Chief Economist,Dr. Ralph McLaughlin, in hisVUE Bloggave these new homeownership numbers some context:
“The trend is clear: the homeownership rate has been ticking up for five consecutive quarters, and the number of new renter households has fallen for four consecutive quarters. Owner-occupied households grew by 1.345 million from a year ago, while the number of renters actually fell by 286,000 households.
The fact that we now have four consecutive quarters where owner households increased while renter households fell is a strong sign households are making a switch from renting to buying. This is a trend that multifamily builders, investors, and landlords should take note of.”
In a separate article comparing the rental population in America to the homeowner population, Realtor.comalso concluded that the gap is now shrinking:
“The U.S. added 1.3 million owner households over the last year and lost 286,000 renter households, the fourth consecutive quarter in which the number of renter households declined from the same quarter a year earlier. That could pose challenges for apartment landlords, who are bracing this year for one of the largest infusions of new rental supply in three decades.”
America’s belief in homeownership was also evidenced in a survey conducted by Pew Research.They asked consumers“How important is homeownership to achieving the American Dream?”
43% said homeownership wasessentialto the American Dream
48% said homeownership wasimportantto the American Dream
Only 9% said it was not important
Homeownership has been, is, and always will be a crucial part of the American Dream.
Author:Andrea Semanko Phone: 360-840-9309 Dated: May 14th 2018 Views: 64 About Andrea: As a northwest native, I have a great understanding of Skagit, Island and Snohomish Counties as to t...
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About Semanko Realty Group, LLC & Washington Quality Homes
Semanko Realty Group is an independent “Boutique” real estate company in the Puget Sound Region & Greater Seattle/Tacoma Communities. Our agents serve Pierce, King, Snohomish, Island, Skagit & Whatcom Counties.
As lifelong residents of the Pacific Northwest, our agents share the same values as the people who live in the communities throughout the Puget Sound. Whether you plan to live & work locally or need to be an extreme commuter, they'll help you find a place to create that lifestyle. They work well with Home Buyers & Sellers anywhere from Olympia to Bellingham because they've embraced the new technology of the internet. They've successfully placed buyer's & seller's together with the unique marketing methods of Semanko Realty Group as an ”Independent Boutique Presence” throughout the Greater Seattle area. />
Real Estate is simultaneously fun and stressful for most people. Our experience at Semanko Realty Group helps minimize the stress. It keeps our clients and all parties moving in the right direction to close their transactions successfully and on time. This means going the extra mile to navigate the issues, playing nice and staying focused to keep all parties accountable. Our goal is to do more than expected and receive referrals from our clients; it's the best compliment we can receive!
The housing crisis is finally in the rear-view mirror as the real esta
"I was thrilled with the level of service I received from Semanko Reality. Andrea and Joel’s years of experience shine through. Everything happened in the way and in the time frame that they suggested. Joel went the extra mile to push my offer to the top of the heap to get it accepted over 2 other buyers. I would recommend Semanko to all of my friends and family looking to buy or sell their home."