The homeownership rate edges back up from a five-decade low amid tentative signs that renter families are starting to gain the confidence to buy homes.
By Laura Kusisto | The Wall Street Journal
The nation’s homeownership rate, which has dropped sharply for years, could be at a turning point.
It hit 63.5% in the third quarter, the Census Bureau said Thursday. That is a significant jump from the prior quarter, when it hit 62.9%, the lowest point in 51 years.
There were other reasons for optimism in Thursday’s release. About 1.1 million households formed in the third quarter, a significant jump from about 944,000 in the prior quarter.
