Market Perspective

Julie C. Nichols General

Home sales up as more Americans choose to buy. View online.

More Americans Choosing to Buy Than Rent 1

In Q3 2017, the national homeownership rate reached its highest level since 2014. What’s more, homeownership rates among those under age 35 increased for the third month in a row to 35.6%, signaling that more millennials are shifting from renting to owning.

National Homeownership Rates

Rental Vacancies Up for Fifth Consecutive Quarter 1

Today’s Mortgages by the Numbers 4

Veterans Administration Purchase
Mortgage Originations

While VA loans represent only 10% of mortgage business4, their popularity grew significantly over the past decade. Between 2007 and 2016, total VA purchase mortgage originations grew from 110,000 to 365,000 loans per year5.

Need help finding qualified buyers for
today’s purchase market? Let’s talk!

[1] U.S. Census Bureau, Quarterly Residential Vacancies and Homeownership, Q3 2017.
[2] U.S. Census Bureau, Monthly New Residential Sales, October 2017
[3] National Association of Realtors® (NAR) Existing-Home Sales, October 2017.
[4] Ellie Mae® Origination Insight Report, October 2017.
[5] Mortgage Bankers Association, November 2017.