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Home Ownership Rate Drops to Lowest Point in 18 Years

The U.S. home ownership rate has fallen to its lowest point since 1995, the Census Bureau reports. US Census Bureau The home ownership rate dropped to 65 percent in the first quarter, down slightly from 65.4 percent a year earlier. Housing analysts say tight credit conditions, constrained inventories of for-sale homes, and an increase in single-family rental homes have caused the home ownership rate to fall. Paul Diggle, a property economist for Capital Economics, says he predicts the home ownership rate will likely fall for the remainder of the year. The home ownership rate peaked in June 2004 when it stood at 69.2 percent. Source: “U.S. Homeownership Rate Falls to Lowest Since 1995,” Bloomberg News (April 30, 2013)  

Homeownership Stays Below 67%

The percentage of U.S. households that owned their homes remained at 66.9 percent in the third quarter, unchanged from the second quarter, the Census Bureau said Tuesday. The homeownership rate held steady for decades at 64 percent, but climbed to 69 percent in 2004. Since the housing bubble burst in 2006, it has declined steadily. Because of rising foreclosures and tightening lending standards, homeownership is likely to decline to 66.7 percent, the rate in 1999, predicted IHS Global Insight economist Patrick Newport. Source: The Associated Press, Alan Zibel (11/02/2010)

  • Home Prices In Arlington Continue To Hike

    Glendale
    The housing market in Arlington County is getting more and more expensive as potential buyers continue to have fewer homes and condos to choose from.

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  • Inlet Cove is near Fort Belvoir and Potomac Mills

    Inlet Cove outside Belvoir
    Inlet Cove is alongside Route 1 This neighborhood of townhouses is near grocers and eateries Inlet Cove is close to Fort Belvoir, Alexandria, and Potomac Mills shops, in the city of Woodbridge Interior to these properties are multilevel Inlet Cove is serene

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  • Pending Home Sales on an Upswing

    home inspector
    Pending home sales increased again in March, affirming that a surge of home sales is unfolding for the spring home buying season, according to the National Association of REALTORS®. The Pending Home Sales Index, a forward-looking indicator based on contracts signed in March, rose 5.3 percent to 102.9 from 97.7 in February, and is 21.1…

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  • A Good Time to Buy a High-End Home

    Station Square
    Some of the best housing deals are on high-end homes, many over $1 million. Some of them need TLC or they aren’t in the most-coveted locations. But there are plenty of desirable properties and lots of sellers who are getting impatient. Buyers with cash have the best opportunities. Buyers who need a mortgage should move…

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  • Who is today’s homebuyer and why are they buying?

    Nesbitt Realty 703 765 0300
    The National Association of Realtors recently did a study about the characteristics of home buyers. Some of the findings might surprise you. Thirteen percent of buyers purchased a home with one or more parents and grandparents together with adult children. There were several reasons given for purchasing a multi-generational home. Cost savings; Children over the…

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Housing Expert: ‘The Suburban Century Is Over’

At a recent meeting of the Urban Land Institute of Minnesota, Senior Fellow John McIlwain said "a new normal" will be created in the housing market over the next 10 years, and he marked the end of "the suburban century." He noted that markets offering "a vibrant 24/7 lifestyle" will see the most robust activity, "net-zero-energy" units will become the norm, and the rental market will expand as homeownership rates fall to more historic levels. Suburban town centers will gain popularity among those wanting an urban lifestyle without living in a big city. Over the next decade, McIlwain said four demographic groups will fuel the housing market. He said older baby boomers increasingly are moving back to the central city, while younger baby boomers are finding it more difficult to relocate for jobs because they cannot sell their suburban houses. Meanwhile, millennials are more environmentally aware and will seek urban lifestyles, and immigrants who cannot afford large suburban houses to shelter multiple generations will increase demand for rentals. With 1.5 million housing units per year needed to accommodate the shift to normal levels of household formation, McIlwain said zoning, financing, and regulations need to be rethought to meet housing demand. Source: minnpost.com, Brad Allen (06/21/2010)

Homes for sale in Northern VA

9021 Dellwood Dr, Vienna 22180
$799,888
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Town and Country Estates
5 bd
2 ba
2,146 sqft
On Site: 51 Days
Listing courtesy of eXp Realty LLC

7600 Tremayne Pl #103, McLean 22102
$369,900
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The Colonies
2 bd
2 ba
1,180 sqft
On Site: 2 Days
Listing courtesy of Samson Properties

1858 Kirby Rd, McLean 22101
$2,144,735
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Birchwood
5 bd
4 ba
6,267 sqft
On Site: 157 Days
Listing courtesy of RE/MAX Distinctive Real Estate, Inc.

12103 Green Leaf Ct #102, Fairfax 22033
$415,000
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Heights At Penderbrook
3 bd
2 ba
1,123 sqft
On Site: 5 Days
Listing courtesy of Fairfax Realty

2343 Brittany Parc Dr, Falls Church 22043
$1,299,000
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Brittany Parc At Tysons
4 bd
3 ba
2,576 sqft
On Site: 47 Days
Listing courtesy of Long & Foster Real Estate, Inc.

5703 Regimental Ct, Centreville 20120
$750,000
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Newgate
4 bd
3 ba
3,221 sqft
On Site: 2 Days
Listing courtesy of KW United

2791 Dylan Schar Ct, Oak Hill 20171
$1,589,000
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Crossfields
4 bd
4 ba
5,026 sqft
On Site: 2 Days
Listing courtesy of McEnearney Associates, Inc.

681 Chain Bridge Rd, McLean 22101
$15,000,000
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Chain Bridge
11 bd
12 ba
18,166 sqft
On Site: 0 Days
Listing courtesy of Long & Foster Real Estate, Inc.

8370 Greensboro Dr #118, McLean 22102
$409,000
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Rotonda
1 bd
1 ba
992 sqft
On Site: 2 Days
Listing courtesy of Compass

2908 Oakborough Sq, Oakton 22124
$799,900
View Details
Oakborough Square
3 bd
3 ba
2,294 sqft
On Site: 1 Days
Listing courtesy of Weichert Company of Virginia

See more in Northern Fairfax County