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Twin Cities Home Ownership

August 23, 2013 |  Article By :   | 

5853529_sHome ownership in the Twin Cities is above the national average and also up from 2012. For the second quarter in 2013, the home ownership rate in the Twin Cities was 73.1%  up from 72.3% in 2012 but down from its peak of 76.5% in 2005. The national home ownership average for the second quarter in 2013 was 65%, in 2012 it was 65.5% and in 2004 it was at 69%. The home ownership rate is expected to fluctuate around a point much lower than the 2005 peak which reflects a healthier balance between owning and renting.

*These numbers are from the National Association of Realtors second quarter local market report.