June is National Homeownership Month. As one of the most popular months to enter the real estate market to buy or sell a home, June is a great time to think about homeownership and what it means to people. It is a time to celebrate the benefits of homeownership in America. June 2022 is the 20th anniversary of National Homeownership Month.
National Homeownership Month began as just a week of observance in 1995. President Bill Clinton and his Administration created the observance with the goal of increasing homeownership across America. In 2002, President George W. Bush expanded the observance from a single week to the entire month of June.
from A Proclamation on National Homeownership Month, 2022 | The White House, a Presidential Action by President Joe Biden
“For many Americans, a home is more than just a residence. It is a place that instills a sense of pride, security, and comfort that, no matter what challenges in life arise, they have somewhere to go and call their own. Whether owning or renting, a home is where we can live with dignity and watch our families grow. During National Homeownership Month, we recognize the importance of housing and reaffirm our commitment to ensuring that everyone has a place to call home.”
Approximately 81% of Americans aged 23 to 31 years who bought a home in 2021 were first-home buyers, according to an April 2022 Statista Research Department report; though only 48% of buyers between 32 and 41 bought their first home in 2021. And since the beginning of the coronavirus pandemic, the US housing market has been booming, with many home buyers capitalizing on low mortgage rates to buy their first house or to move to a new home. When the number of home sales spiked halfway through 2020, Americans interested in the residential real estate market began watching the market more closely to assess advantageous times to buy or sell property.
Some ways to observe National Homeownership Month is by raising awareness of fair housing issues, working to boost the availability of affordable housing, and increasing sustainable homeownership. Homeownership is a foundational source of wealth building. Real estate professionals are on board, making a commitment to expanding homeownership.
Real estate brokers and agents are important people to have in your corner when it comes to buying or selling property. If you are looking for assistance navigating the residential real estate market in the Texas Gulf Coast region, consider reaching out to WEICHERT, REALTORS® – The Place of Houses. Located in Corpus Christi, Texas, this real estate group is comprised of professionals who can assist you with all your real estate needs. If you need real estate guidance, please don’t hesitate to contact a member of the licensed team of professional realtors at WEICHERT, REALTORS® – The Place of Houses, either online or by phone at 361-882-5588.