Each year, the housing industry celebrates homeownership month in June as an opportunity to remind consumers about the importance of home in our lives. In the first quarter of this year, the Census Bureau’s Housing Vacancy Survey reported the U.S. homeownership rate was 65.6%.
Interest in homeownership among prospective buyers continues to grow in the wake of the COVID-19 pandemic, with 16% of American adults looking to purchase a home in the next 12 months — up from 10% year over year — according to NAHB’s Housing Trends Report for the first quarter of 2021. This is the third — and largest — year over year increase in the series’ history. HBAs and members have a great opportunity to promote the benefits of homeownership throughout the month of June. To support outreach efforts, NAHB has an online toolkit available with resources that can be tailored to your local market. Toolkit highlights include customizable consumer articles, sample social media posts, talking points and a press release template.
To commemorate the month, the Biden administration released a proclamation underscoring the value of homeownership:
“For millions of Americans, homeownership is the cornerstone of a life with security, with dignity, and with hope. A home is more than four walls and a roof; it is a place where we can celebrate triumphs and weather the trials of life. A place where we can watch our families grow and prosper. A place that helps us build wealth we can pass down to our children and our grandchildren.”
The Biden administration also announced several actions to address racial discrimination in the housing market.