June: National Homeownership Month
Homeownership month is a great time to celebrate the importance of owning a home and the impact it has on the lives of American families, local neighborhoods and the nation’s economic health. The Real Estate Industry is using this month to recognize the importance of homeownership as a milestone of the American Dream. To celebrate this exciting month, I gathered some interesting facts and statistics on current homeownership.
Did you know?
- Homeowners move far less frequently than renters, making it easier to build community networks and support systems.
- Children of families who own their homes are more likely to graduate high school and earn more income later in life.
- The Fannie Mae study shows that 95% of respondants see homeownership as a “positive experience” for them and their families.
NAR’s Housing Pulse Survey shows:
- 84% of Americans now believe that purchasing a home is a good financial decision – the highest number since 2007.
- Over 50% of respondents strongly agree that homeownership provides a stable and safe environment for children and family members.
- 8.4 out of 10 Americans believe the most important financial reason to own a home is the money spent goes towards building one’s own home equity rather than a property owner’s.
- 51% of respondents said they were willing to strain their budget for a better living environment and would pick a neighborhood with better schools and job opportunities.