US Home Ownership Rate Increses Despite Pandemic

Rates of home ownership increased to 67.9% of the US population during the 2nd quarter of 2020, up 3.8% from a year earlier. Many real estate experts were surprised that the number of home owners increased despite the pandemic, citing low inventory and the reluctance of many home buyers to visit available properties in person during the Covid pandemic. Record low home mortgage interest rates, however, contributed to a greater demand for homes, and many buyers found properties online and purchased them before ever visiting in person.

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