WASHINGTON–The home ownership rate in the U.S. ticked up ever so slightly in the fourth quarter of 2015, but it was below the figure for one year earlier.
The U.S. Census Bureau reported that the homeownership rate rose 0.1% to 63.8% in the fourth quarter of 2015, compared to 63.7% in Q3. But the Q4 number is still 0.2% below the rate of 64.0% during the same period in 2015.
In addition, although the homeownership rate, while up from a 48-year low in the second quarter of 2015, is still below the peak of 69.2% in June 2004.
Meanwhile, after a sharp decline in November that some attribute to delays caused by new regulations, existing-home sales rose 14.7% to a seasonally adjusted annual rate of 5.46 million in December, up from 4.46 million in November. Year-over-year, existing-home sales are up 7.7%, and December's jump will mark the largest increase ever.
The National Association of Realtors (NAR) reported that the share of first-time buyers share was at 32% in December, up from 30% in November and 29% a year ago. For the year, first-time buyers made up 30% of homebuyers, up one percentage point from 2014 and 2013.