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You are here: Home / Blog / Market Trends

Report: Housing demand shifting from renting to owning

June 22, 2018

Housing demand shifting from renting to owning

If you needed further confirmation that home ownership is becoming a more attractive option than renting to people across the country, just ask Harvard.

According to the recent State of the Nation’s Housing report from the Joint Center on Housing Studies of Harvard University, the national home ownership rate increased for the first time in 13 years (from 63.4% in 2016 to 63.9% in 2017). The number of homeowners has risen an average of 710,000 per year over the past two years.

At the same time, the demand for renting has significantly slowed down. While growth in the number of rental households from 2000 – 2015 was at an average of 850,000 per year, that number dropped dramatically in 2015 – 2017 to just 220,000. The national rental vacancy rate also rose for the first time since 2009 (from 6.9% to 7.2%).

As renting continues to become more unaffordable in markets across the country, more people are finding home ownership to be the best (and often times more affordable) housing option for themselves and their families.

Filed Under: Market Trends Tagged With: Rent vs. Own

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"Very professional approach to all aspects of our transaction. His handling of this purchase allowed us to have total confidence that we were being represented by the best real estate agent for us. I would have no reservations in recommending Russ Fortuno to anyone else looking for a RealEstate Agent! "
- D.L., Green Valley AZ
"Russ Fortuno not only made our Green Valley AZ home purchase happen, he made it easy. We live in Eastern Washington and wanted to buy a vacation home in Green Valley but were apprehensive about buying a property without physically seeing it. Russ made the process easy. He supplied us with walk-through videos of every property we showed interest in, paying special attention to any issues the property might have. By the time we actually saw the property we were purchasing, we felt like we had been there a number of times. Russ walked us through the buying process from beginning to end! We highly recommend Russ and will use him for all or our real estate needs."
- D.W., Chattaroy, WA
"Russ has done excellent work for us. I have purchased several homes over the years and he is the best I have worked with. We chose Russ on a recommendation from a family member. He didn’t try to sell us on him or his firm. No “fluff talk”, pestering, unnecessary calls, emails or text. Instead, he showed us properties we were interested in and some that we were not aware of. Never felt the least bit of pressure. He was very patient, pleasant and responsive. He has a very relaxed yet professional style. He explained everything in a manner that was easy to understand and we felt very secure throughout the process. He is the best ever. In our mind he is the gold standard of what a Realtor should be."
- N.L., Green Valley AZ
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Russ Fortuno, Associate Broker

I'm a Southern Arizona native and year-round Green Valley resident. Whether you’re buying or selling a home in the Green Valley or Sahuarita area, you’ll experience unsurpassed service and professionalism at all stages of your real estate transaction. I welcome the opportunity to assist in your next home sale or purchase.
Meet Russ

Tierra Antigua Realty

18745 S. I-19 Frontage Rd., Ste. A105
Green Valley, AZ 85614
(520) 333-0446
Contact Russ

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