Including home buying and selling, commercial, international, NAR member information, and technology. Use the data to improve your business through knowledge of the latest trends and statistics.
Stay current on industry issues with daily news from NAR. Network with other professionals, attend a seminar, and keep up with industry trends through events hosted by NAR.
Including home buying and selling, commercial, international, NAR member information, and technology. Use the data to improve your business through knowledge of the latest trends and statistics.
Stay current on industry issues with daily news from NAR. Network with other professionals, attend a seminar, and keep up with industry trends through events hosted by NAR.
Over the last decade, the housing market has gone through a dramatic swing. The large increase in unemployment which resulted from the recent recession coupled with nearly 4 million foreclosures since 2008 reduced the number of homeowners. As a result the homeownership rate fell nationally and in most states across the country.
In 2000, Michigan, Minnesota and Maine were all in the top 5 states as ranked by their homeownership rate. Michigan experience significant economic turmoil during the recession of 2001-2002 as did Minnesota and Maine following the housing bubble.
West Virginia and South Carolina were the only states to remain in the top five by 2011. Both states experienced an expansion of employment over the decade with relatively stable increases in home prices and limited exposure to subprime lending.