The national homeownership rate experienced a slight decline in the second quarter of 2019 to 64.1% from 64.2% the previous quarter, though not enough to signal worry over a declining market, according to Zillow’s Quarterly Homeownership Report. The decrease shows the market taking a momentary breather, an acknowledgement that the home value appreciation of 2017 and 2018 was not sustainable and that 2019 could net out as a much more sane year.
One interesting gain in the latest report showed that Millennials pulled ahead and were the only age group that saw an increase in the homeownership rate, while their older counterparts all saw dips.
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