Homeownership Rate Continues To Fall While Prices Rise

Research found that younger households tend to favor renting

By Peter Fabris, Contributing Editor | 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.

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PB-Industry Data + Research,PB-Single Family Homes