Desire for Home Ownership is Rising
Did you know there was a time when our economy was called a "renters society"?
"The rumors of my death are greatly exaggerated.” - Mark Twain
The famous quote attributed to Mark Twain can apply to homeownership in the United States today. During the housing bubble of the last decade, the homeownership rate soared to over 69%. After the crash, that percentage continued to decrease for the next 10 years.
That led to speculation that homeownership was no longer seen as a major component of the American Dream.
That belief became so widespread that the term “renters’ society” began to be used by some to define American consumers.
However, the latest report by the Census Bureau on homeownership shows that over the last 2 years, the percentage of homeowners has increased in each of the last 8 quarters.
The 2019 Aspiring Home Buyers Profile recently released by the National Association of Realtors (NAR) revealed 84% of non-owners WANT to own a home in the future. That percentage increased from 73% earlier LAST year. The feeling of home ownership is alive and well.
*These two infographics are shown to help you see the numbers laid out. The average price for a single family home for sale in Murrieta is in the $430k's and the average price for a single family home in Temecula is in the $460k's.
Remember, we are StockUp. Not Stuck Up. We care about your real estate goals--today, tomorrow, always.
#stockuprealty #stockupnotstuckup #todaytomorrowalways #prideofhomeownership
Thank you for reading.