Did you know that June is National Homeownership Month? The National Association of Home Builders (NAHB) remarks that “National Homeownership Month is an opportunity to reflect on the evolving role of the home and its importance in our lives,” which we love! To celebrate, we wanted to share some of the things that make homeownership so important. But first, we thought we would share some data about homeownership in our district from NAHB. According to a recent survey, our district has a homeownership rate of 81% with approximately 391,939 homes in the area. Of those homes:
- 72% are single-family detached
- 2% are single-family attached
- 6% are multifamily homes
- 20% are other types of housing units
In the first quarter of 2020, the housing market saw a rise in homeownership compared to 2019, especially among first-time homebuyers. Data shows that the homeownership rate for first-time homebuyers rose 1.9 percentage points from a year ago. Truthfully, this increase isn’t drastic, but it’s still something to be excited about it. Homeownership is a dream that many people strive for, and this uptick shows that more and more people are making that dream a reality.
So, why is homeownership so important? We’re glad you asked!
Homeownership is an ideal that continues to be a source of pride for many. Owning a home is not only an accomplishment but it also provides stability and peace of mind — something we could all use, especially now. It’s safe to say that many of us are still getting used to spending the majority of our time at home due to these days. That being said, homeownership has become even more central to our lives. Now more than ever, it’s where we work, learn, play, relax, and create memories as a family.
In addition, housing is extremely important to local, state, and national economies. NAHB reports that “15 percent of the U.S. economy relies on housing and nothing backs a bigger local economic impact than home building.” The organization’s National Impact of Home Building and Remodeling Report shows “Building 1,000 average single-family homes creates 2,900 full-time jobs and generates $110 million in taxes and fees for all levels of government to support police, firefighters and schools.” All of these things contribute to the success of our community and the people that reside within it.
Whether you’re just beginning your journey into homeownership or have been in the game for a while, Triple Crown Homes is here to support you. We have a range of affordable homes and floor plans to choose from throughout Marion County, including neighborhoods that qualify for USDA loans. To learn more about our home building process or working with our team, please get in touch. We’d be happy to answer any questions you may have!
