Economic Report: Homeownership rate reaches three-year high as rebound from crisis gathers pace

More Americans became homeowners in the final three months of last year, fresh evidence that homeownership is rebounding after touching a post-crisis low.

The homeownership rate hit an all-time high of 69.1% in 2004 as the housing bubble inflated. In the aftermath of the crisis, it skidded lower and lower, finally bottoming out at 62.9% in 2016. In the fourth quarter of 2017, it jumped to 64.2%, the Census Bureau said Tuesday.

While not as volatile as some housing data, the homeownership rate has bounced around a bit. But Ralph McLaughlin, chief economist for Trulia, notes that the October-to-December period was the fourth quarter in a row in which the growth in the number of new owner households outpaced the number of new renter households.

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