It’s National Roof Over Your Head Day! In honor of this celebration, we’re typing this from our home, under that very roof we’re celebrating. We also have a few facts we’re excited to share with you about homeownership in 2021.
- There’s been a general decrease in homeownership.
- Some experts have said his relates to a general lack of supply and an increase in the price of residential real estate.
- The Homeownership rate is 67.4%.
- This is 2.6% higher than the end of 2019.
- There is no statistical difference between now and 2020.
- This s the highest rate since 2008, which was 62.3%
- One-third of home buyers are first-time buyers.
- A majority of these are millennials, born between 1981 and 1996.
- 65% of homes are owner-occupied, which is 79.36 million.
- This is lower than the global average, however, it is higher than most countries in Western Europe, where most people rent their homes.
- In the UK, Germany, France, Switzerland, and Sweden less than half of homes are owner-occupied.
- The U.S. vacancy rate of households is 1.6 %.
- The current homeownership rates are equal to the ones in the seventies.
- Real Estate Prices have risen approximately 73% since the year 2000.
All that to say, we hope you’re enjoying the roof you’re under and the people who help make it home!