Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Home ownership falls to lowest level in 11 years

By Julianne Pepitone, staff reporter


NEW YORK (CNNMoney.com) -- The number of Americans who own homes fell in the second quarter of the year to the lowest level since 1999, said a government survey released Tuesday.

The Census Bureau said the home ownership rate fell to 66.9% in the second quarter of 2010, down half a percentage point from the previous year. The home ownership rate was 67.1% in the first quarter of the year.

In the second quarter rates were highest in the Midwest, where 70.8% of people are homeowners, and lowest in the West, where 61.4% of people own.

Rates in the South and West were lower than a year ago, while the Northeast and Midwest stayed the same.

Vacancies: The vacancy rate in non-rental units also fell in the second quarter, to 2.5%. Meanwhile, the vacancy rate in rental homes stayed steady at 10.6%.

Almost 86% of U.S. homes were occupied in the second quarter, with owner-occupied housing comprising 57.3% of all housing units. Renter-occupied homes were 28.3% of all units.

A separate report released Tuesday, the Case-Shiller index, showed home prices rose 1.3% in May compared with the previous month. To top of page


Overnight Avg Rate Latest Change Last Week
30 yr fixed4.01%4.14%
15 yr fixed3.18%3.29%
5/1 ARM3.24%3.30%
30 yr refi4.01%4.14%
15 yr refi3.19%3.31%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
Index Last Change % Change
Dow 20,716.80 55.50 0.27%
Nasdaq 5,831.67 10.03 0.17%
S&P 500 2,352.74 4.29 0.18%
Treasuries 2.42 0.02 0.92%
Data as of 2:35pm ET
Company Price Change % Change
Bank of America Corp... 23.21 0.27 1.18%
Ford Motor Co 11.67 -0.10 -0.85%
Advanced Micro Devic... 13.99 -0.11 -0.78%
Chesapeake Energy Co... 5.19 0.19 3.80%
Micron Technology In... 26.42 0.36 1.38%
Data as of 2:20pm ET

Sections

Now Sears has officially said its business has an uncertain future, here's a look at photographs that documents the store's rich history. More

Homebuilders and other companies with ties to housing are noting an uptick in housing demand this year thanks to a healthy job market and hope for lower taxes. Prices are rising too, but few are worried another bubble is looming. More

The Federal Communications Commission voted Thursday to approve a proposed rule that would make it easier for phone companies to crack down on robocalls. More

Your credit score plays a major role in your personal finances. The better the score, the better it is for your wallet. Here's how to help get it above the 800 mark. More