Q1 Homeownership Slips to 65.4% Overall, But Millennials Gain Ground
The nation’s homeownership rate fell to 65.4% in the first quarter of 2022, down slightly from the fourth quarter of 2021 and 0.2 percentage points lower than the same quarter in 2021 as the economy and housing markets contend with growing prices and interest rates, limiting buyers’ abilities to become homeowners. While the homeownership rate slid across most age groups, it increased for buyers in the ‘under 35’ and ‘35-44’ age groups by 0.5 percentage points and 0.9 percentage points, respectively.