We’re in a historic housing downturn, but analysts were surprised to find that the second and third quarters of 2011 yielded statistics showing that home ownership edged upward to 66.3% from 65.9 percent in the second quarter.
According to the U.S. Census Bureau, national rental vacancy was 9.8% during the third quarter, down from 10.3% this time last year, but up from 9.2% in the second quarter. The data points to a sustained home ownership rate among older adults, but a marked decline among young and middle-aged prospects. One analyst predicts that in the future buyers will wait longer to buy, until their late 30s or even early 40s. People still want to own a home, but it’s going to take longer in the future to lure them to the closing table.
We’re in a historic housing downturn, but analysts were surprised to find that the second and third quarters of 2011 yielded statistics showing that home ownership edged upward to 66.3% from 65.9 percent in the second quarter.
According to the U.S. Census Bureau, national rental vacancy was 9.8% during the third quarter, down from 10.3% this time last year, but up from 9.2% in the second quarter. The data points to a sustained home ownership rate among older adults, but a marked decline among young and middle-aged prospects. One analyst predicts that in the future buyers will wait longer to buy, until their late 30s or even early 40s. People still want to own a home, but it’s going to take longer in the future to lure them to the closing table.