June is National Home Ownership Month
June is National Home Ownership Month! Home ownership changes lives and enhances futures, and many Americans see it as one of their greatest hopes. These individuals are counting on the nation’s 1.3 million REALTORS® to champion and protect home ownership and help make it more affordable, attainable and sustainable. More than just a place to live, the American home is a symbol of community, families, and supporting local businesses. For so many of us, it’s an important milestone on the road to the American Dream.
For National Home Ownership Month, let’s look at the current state of home ownership in America: The U.S. home ownership rate is hovering around sixty-four percent, with a majority of first-time home buyers under the age of 37 years old. Also, an estimated forty percent of borrowers will use an FHA loan to purchase their first home. According to the Silicon Valley Association of Realtors, the American housing sector is responsible for approximately fourteen percent of total economic activity.
According to the HUD, the median wealth or net worth of a homeowner is nearly $200,000, or 36 times greater that of the median renter who had just over $5,000.” Additionally, the children of homeowners are more likely to graduate from high school and earn more in adulthood.
Are you dreaming of becoming a new homeowner? Or are you in the market to sell your home and upgrade your living space? Contact the Nate Martinez Team today! We will help you with the entire home selling and buying process and be sure to make your experience a positive memorable one every step of the way.
Nate Martinez, RE/MAX Professionals
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