4 homeownership month stats to know during this special month
June is National Homeownership Month, which means it’s time to celebrate everything good that comes with owning a home! It’s our pleasure to be a vital part of the homebuying – and selling – process for so many each year.
Did you know the homeownership rate has hovered around 65 percent during recent years? If you already own a home, then you know how rewarding it can be. For those still in the market for their first home, we can’t wait to help you get to the finish line and host a big celebration for you at the end. Of course, you’re not on this adventure alone. Your REALTOR®, loan officer and all of our teams are here to help guide you through it all.
Here are a few recent stats on homeownership for you to know:
- First-time homebuyers accounted for 26 percent of buyers last year – the smallest share since such data was tracked.
- Owning a home helps people feel independent (67%), satisfied (64%) and proud (61%).
- Almost three-quarters of U.S. adults (74%) cited owning a home as part of the American dream in a 2023 survey. That outranked being able to retire (cited by 62% of respondents), having a successful career (61%), owning a car or truck (52%), having children (42%) and getting a college degree (33%).
- According to 2022 statistics, the typical buyer spent 10 weeks searching for a home and viewed eight properties during the search.
To all of our fellow real estate professionals out there, thank you for all that you do! It’s always a joy to help people realize their homeownership dreams. While that’s simply part of the mission of what our teams do every day, if you’ve enjoyed working with us over the last year – or longer – we’d love to ask for a review of your favorite branch on Google or Facebook! We can’t wait to be a part of many more success stories going forward.