Homeownership Rate Continues To Fall While Prices Rise
Research found that younger households tend to favor renting
March 22, 2017
The homeownership rate continues to decline, with younger households tending to favor renting, according to a new Research Brief from Marcus & Millichap. The report also indicates that single-family home sales rates would rise if more of them were available. Nevertheless, healthy demand boosted the median price of a single-family home by 7.3% to $230,400 in 2016 as compared to 2015.