Homeownership Rate for North Carolina
NCHOWN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
64.50
Year-over-Year Change
-4.02%
Date Range
1/1/1984 - 1/1/2024
Summary
The Homeownership Rate for North Carolina measures the percentage of occupied housing units that are owner-occupied in the state. It is a key economic indicator that provides insights into housing affordability and the financial health of North Carolina households.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Homeownership Rate is a widely-used metric that tracks the proportion of homes in North Carolina that are owner-occupied versus rented. It reflects trends in housing costs, mortgage availability, and consumer confidence, which are important for policymakers and analysts to monitor.
Methodology
The data is collected through the U.S. Census Bureau's Current Population Survey.
Historical Context
The Homeownership Rate is closely watched by real estate professionals, mortgage lenders, and state and local governments to assess housing market conditions and the broader economy.
Key Facts
- North Carolina's homeownership rate was 65.3% as of the latest data.
- Homeownership rates have declined nationally since the 2008 financial crisis.
- North Carolina's rate is similar to the overall U.S. homeownership level.
FAQs
Q: What does this economic trend measure?
A: The Homeownership Rate for North Carolina measures the percentage of housing units in the state that are owner-occupied versus rented.
Q: Why is this trend relevant for users or analysts?
A: The Homeownership Rate is an important indicator of housing affordability, consumer confidence, and the overall health of the North Carolina economy.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's Current Population Survey.
Q: How is this trend used in economic policy?
A: Policymakers, lenders, and real estate professionals use the Homeownership Rate to assess housing market conditions and the broader economy in North Carolina.
Q: Are there update delays or limitations?
A: The Homeownership Rate data is published quarterly with a short lag, providing timely insights into housing market trends.
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Citation
U.S. Federal Reserve, Homeownership Rate for North Carolina (NCHOWN), retrieved from FRED.