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New study names root causes for depressed homeownership rate in U.S.

Jun 09, 2017
Despite steadily improving local job markets and historically low mortgage rates, the U.S. homeownership rate is stuck near a 50-year low because of a perverse mix of affordability challenges, student loan debt, tight credit conditions and housing supply shortages. That’s according to findings in a new white paper released in recognition of National Homeownership Month at the National Association of REALTORS Sustainable Homeownership Conference. 

Five main barriers that have prevented a significant number of households from purchasing a home include: post-foreclosure stress disorder; mortgage availability; the growing burden of student loan debt; single-family housing affordability; and single-family household supply shortages. 

Click here to learn more. 
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New York State home sales set second quarter record

The New York State housing market set a record high for second quarter home sales, reaching 32,444 homes sold. The second quarter statewide median sales price of $245,000 represents an increase of 6.5 percent from the 2016 second quarter. Click here to read more.

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