What's Hot: Renderings Revealed for 337-Unit Brookland Bowling Alley Conversion | Dan Snyder's Potomac Home Hits the Market for $49 Million
Did Homeownership in the U.S Just Shoot Up?

New numbers from the U.S. Census Bureau released today reveal the largest rise in homeownership in the country in twelve years. However, those statistics may be a little misleading.
The report states that the homeownership rate jumped almost 4 percentage points in the second quarter to 67.9% with some of the largest gains in younger households. The under 35 age bracket saw a 3.2% jump and the 35-44 year-old sector saw a rise of almost 5%. Black and Hispanic ownership jumped by 6.4% and 4.8%, respectively.
story continues below
loading...story continues above
While this rise is notable, there is thinking that the numbers may be misleading due to the ongoing pandemic and the resulting way that data was collected.
"As a result of the coronavirus pandemic (COVID-19), data collection operations for the CPS/HVS were affected during the second quarter of 2020," the Census Bureau stated. "In-person interviews were suspended for the duration of the second quarter and replaced with telephone interview attempts when contact information was available. If the Field Representative was unable to get information on the sample unit, the unit was made a Type A non interview (no one home, refusal, etc)."
Calculated Risk goes into more detail as to how the data collection may have influenced the numbers.
"This survey might show the trend, but I wouldn't rely on the absolute numbers," the blog states. "The Census Bureau is investigating the differences between the Housing Vacancy Survey (HVS), American Community Survey (ACS) and decennial Census, and analysts probably shouldn't use the HVS to estimate the excess vacant supply or household formation, or rely on the homeownership rate, except as a guide to the trend."
See other articles related to: home buying, homeownership rate
This article originally published at https://dc.urbanturf.com/articles/blog/did-homeownership-in-the-us-just-shoot-up/17121.
Most Popular... This Week • Last 30 Days • Ever

For this week's rundown, UrbanTurf catches up on the latest news regarding developmen... read »

The 30,000 square-foot home has been privately offered for sale since 2018.... read »

DC's Office of Planning recently looked at DC's migration patterns in 2022. Today, Ur... read »

The residential conversion at a former bowling alley in DC is moving forward, and new... read »

When interest rates doubled in the second half of 2022, activity in the regional hous... read »
- The Next Decade of Development In and Around Howard University
- Dan Snyder's Potomac Home to Publicly Hit the Market for $49 Million
- In and Out: DC's Migration Patterns in 2022, By the Numbers
- Renderings Revealed for 337-Unit Brookland Bowling Alley Conversion
- 200 People At An Open House? As Interest Rates Drop, Homebuyers Return
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro