Beyond the Bottom? Homeownership Rate Creeps Back Up

The homeownership rate crept up close to a full percentage point from one year ago to 63.7 percent in the second quarter, encouraged by more owner household formation, according to the U.S. Census Bureau’s recent Quarterly Housing Vacancies and Homeownership report. The owner household formation rate overtook the renter household formation rate in the first quarter, and remained ahead in the second quarter—evidence that the shift toward owner-occupied is more than a one-off trend. Ro