November 18, 2020
Texas’ homeownership rate has reached an all-time high of 70%, according to the latest Texas Housing Insight report from the Real Estate Center at Texas A&M University. The state rate exceeds the nation’s 67.4% for the first time since 2012.
“Strong sales activity during the third quarter pushed the Texas homeownership rate to the unprecedented high,” said Real Estate Center chief economist Dr. Jim Gaines. “Nationally, homeownership fell across all races and every age group, except those 65 and older.”
Austin registered the greatest homeownership rate in the Texas Urban Triangle for the first time in 12 years, rising almost 9 percentage points to 74.7%. Dallas-Fort Worth’s rate hit 69%. San Antonio was relatively unchanged at 66.3%.
Houston recorded a drop in the proportion of owner-occupied units, falling from 67.9% to 65.5%.
“Homeownership could suffer in 2021,” cautions Gaines, “as COVID-19 foreclosure-protection policies expire.”
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