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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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"Russ was very helpful during the entire process. His online document signing and website were a hugh asset as we were moving from out of state. Very professional and aware of all the details we needed to know to be successful in our home purchase in Green Valley."
- K.L., Green Valley AZ
"My experience with Russ selling my mom’s house for us was great. I’m in northern Idaho and he dealt with everything for me with out me having to go to Green Valley. I feel he went above and beyond the call of duty. I not only recommend him, I am going to use him to sell mom’s other house. THANKS, Russ."
- B.M., Bonners Ferry ID
"I can’t say enough about what an outstanding job Russ did for us! We decided to retire to AZ and after touring several areas in the state, we chose the Tucson area. I found Russ online and reached out to him to help us find our retirement neighborhood and home. Russ spent a day showing us all of the different neighborhoods in both Sahuarita and Green Valley that met our requirements and were within our budget. By the end of the day, we had chosen four neighborhoods. Russ then found four homes for sale in our chosen neighborhoods; two in our favorite! The next day, Russ took us to tour the four homes and by the end of the second day, we made an offer. We are relocating from Kentucky and Russ has been there for us every single step of the way. He has been invaluable in making this entire experience smooth and exciting for us! His service after the sale has been equally exemplary!"
- E. W., Sahuarita 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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