{"id":4068,"date":"2017-05-01T00:00:00","date_gmt":"2017-05-01T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/new-households-favoring-homeownership\/"},"modified":"2017-05-01T00:00:00","modified_gmt":"2017-05-01T00:00:00","slug":"new-households-favoring-homeownership","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/new-households-favoring-homeownership\/","title":{"rendered":"New Households Favoring Homeownership"},"content":{"rendered":"

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For the first time in a decade, more new households chose to buy a home rather than rent one in the first quarter of 2017, according to Census Bureau data. About 854,000 new households purchased a home\u2014more than double the 365,000 new households who chose to rent. New homeowners have not outpaced new renters since the third quarter of 2006.<\/p>\n

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Read more: Is the Homeownership Rate Finally Stabilizing?<\/p>\n<\/blockquote>\n

The overall homeownership rate in the first quarter of 2017 was 63.6 percent, down slightly from 63.7 percent in the fourth quarter of 2016. But economists say the increase in new households who purchased could signal a turnaround in the long-term decline of the overall homeownership rate, according to The Wall Street Journal<\/em>.<\/p>\n

In the mid-2000s, the homeownership rate peaked at about 69 percent. In the second-quarter of 2016, it hit a 50-year low of 62.9 percent but has been gradually climbing since then. “People are looking at housing<\/a> as being a bit more attractive, as memories of the financial crisis fade,” Joseph LaVorgna, chief U.S. economist at Deutsche Bank, told the Journal<\/em>.<\/p>\n

Indeed, existing-home sales zoomed to their strongest sales pace in a decade in March, according to the National Association of REALTORS\u00ae. New-home sales also edged up 5.8 percent in March.\u00a0<\/p>\n

Source: \u201cRent or Buy? More Young People Are Choosing Homeownership,\u201d The Wall Street Journal (April 27, 2017) [Log-in required.]<\/em><\/p>\n<\/div>\n<\/div>\n

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For the first time in a decade, more new households chose to buy a home rather … New Households Favoring Homeownership<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":4069,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[1403,15239,12908,543,215,248,3051,627,617,344,1007,41,818],"class_list":["post-4068","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-buy","tag-chase","tag-home","tag-home-buying-guide","tag-home-sale","tag-home-sales","tag-homeowner","tag-homeowners","tag-house","tag-housing","tag-owners","tag-property","tag-real"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":663,"url":"https:\/\/amazingproperty.com.ng\/blog\/is-this-the-new-normal-for-homeownership\/","url_meta":{"origin":4068,"position":0},"title":"Is This the New Normal for Homeownership?","author":"Amazing Property","date":"February 7, 2017","format":false,"excerpt":"The homeownership rate is on the decline again. The latest numbers reflecting the fourth quarter of 2016 show the homeownership rate fell from 63.8 percent a year earlier to 63.7 percent, the Census Bureau reported. While the drop may seem slight, it reflects an overall trend for homeownership in the\u2026","rel":"","context":"In "Property owner"","block_context":{"text":"Property owner","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/property-owner\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3958,"url":"https:\/\/amazingproperty.com.ng\/blog\/is-the-homeownership-rate-finally-stabilizing\/","url_meta":{"origin":4068,"position":1},"title":"Is the Homeownership Rate Finally Stabilizing?","author":"Amazing Property","date":"April 28, 2017","format":false,"excerpt":"Is This the New Normal for Homeownership? The U.S. homeownership rate was 63.6 percent in the first quarter of 2017, barely budging from last quarter\u2019s reading of 63.7 percent, the U.S. Census Bureau reports. 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But homeownership remains a \u201ccritical part\u201d of the national economy and \u201congoing weakness in the single-family housing market, represents a substantial hurdle limiting the pace of economic growth,\u201d according to a newly released study by the Rosen\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2710,"url":"https:\/\/amazingproperty.com.ng\/blog\/hispanics-are-a-growing-buying-force\/","url_meta":{"origin":4068,"position":4},"title":"Hispanics Are a Growing Buying Force","author":"Amazing Property","date":"March 29, 2017","format":false,"excerpt":"While the national homeownership rate decreases, ownership rates among Hispanics are defying the trend with steady rises. 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