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U.S. Homeownership at 25 Year Low – Non-Occupant Owners at Record High

According to RealtyTrac’s Q1 2015 Cash, Investor & Distressed Sales Report, owner-occupant buyers accounted for 63.2 percent of all residential single family home and condo sales in the first quarter of 2015, down from 65.8 percent in the previous quarter and 68.6 percent a year ago to the lowest quarterly level going back to the first quarter of 2011, the earliest quarter with data available.In addition, the homeownership rate in the first quarter of 2015 fell to 63.7 percent, the lowest since 1990, according to the U.S. Census.Meanwhile non owner-occupant buyers — any buyer who purchased a property but has their property tax bill mailed somewhere else — reached a new high of 36.8 percent in the first quarter of 2015, the highest level since the first quarter of 2011. In the universe of non-owner-occupied purchases, 44.7 percent were to all cash buyers, down from 61.0 percent a year ago to the lowest quarterly level since the first quarter of 2011.A total of 14,621 single family homes were sold to institutional investors — entities that purchase at least 10 properties in a calendar year — in the first quarter of 2015, 3.4 percent of all sales and down from 6.2 percent a year ago, the lowest share in four years.

Source: U.S. Homeownership at 25 Year Low, Non-Occupant Owners at Record High – WORLD PROPERTY JOURNAL Global News Center

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